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China – Skadden Advises Sinopec On USD3.5bn Notes Offering.

25 April, 2013

 

Skadden represented Sinopec Corp (China Petroleum & Chemical Corporation), as the guarantor, and Sinopec Capital (2013) Limited, a wholly owned subsidiary of Sinopec, as the issuer, in a US$3.5 billion Rule 144A/Regulation S offering of senior unsecured notes.  The notes were issued under four tranches: US$750 million 1.250% notes due 2016, US$1 billion 1.875% notes due 2018, US$1.25 billion 3.125% notes due 2023 and US$500 million 4.250% notes due 2043.  Citigroup, Bank of America Merrill Lynch, UBS and JP Morgan were the joint global coordinators, with another eight banks acted as the joint lead managers and joint bookrunners. This offering is the largest-ever U.S. dollar bond issued by a Chinese company, and the largest corporate debt offering in Asia ex-Japan in 10 years.


Leading the Skadden team were partners Gregory Miao (Shanghai), Peter Huang (Beijing) and Edward Lam (Hong Kong).

 

For further information, please contact:

 

Andrew Towler, Skadden
andrew.towler@skadden.com

 

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