Sinopec goes for tight pricing on $3bn notes

oil worker px230
By Narae Kim
28 Apr 2016

China Petroleum & Chemical Corp (Sinopec) made a comeback to the bond market this week with a $3bn four-tranche deal. But in a step away from its previous outings, the oil and gas giant opted for price over size.

Sinopec has a penchant for breaking records. In April 2014, the issuer smashed records with a $5bn five tranche bond that ranked as the largest dollar deal in Asia at the time. 

A year later, the Aa3/A+/A+ rated state-owned company printed an impressive $6.4bn from a dollar-euro combo. That ...

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