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BEIJING - China Petroleum and Chemical Corp, known as Sinopec, plans to sell as much as 23 billion yuan ($3.5 billion) of six-year convertible bonds to develop infrastructure.
Sinopec agreed on Oct 1 to pay $7.1 billion for a 40 percent stake in Madrid-based Repsol YPF SA's Brazilian unit. Spokesman Huang Wensheng could not be reached for comment on Wednesday.
Sinopec fell 0.4 percent to close at HK$7.47 (96 cents) in Hong Kong while the benchmark Hang Seng Index fell 0.87 percent.