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China Daily | Updated: 2014-04-04 07:12
Sinopec raises $5 billion in dollar-denominated debt
State-owned China Petrochemical Corp, parent of Asia's largest oil refiner, has raised $5 billion from the biggest offering of dollar-denominated notes by an Asian issuer in more than a decade. The company, known as Sinopec Group, sold notes with three-, five- and 10-year maturities, matching the amount issued in November 2003 by Hutchison Whampoa Ltd. Investors in the United States bought 70 percent of Sinopec's three-year fixed-rate notes, according to a person familiar with the matter.
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