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| Sinopec to issue RMB 30 bln bonds with warrants on Feb. 20 |
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| 2008-02-24 | |
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Feb. 18, 2008 (China Knowledge) – China Petroleum & Chemical Corp (Sinopec)<600028><386><SNP>, the country’s largest oil refiner, today announces that the bonds with warrants of Sinopec Corp in the amount of RMB 30 billion will issue to the public in Mainland China on Feb. 20, 2008. The bonds with warrants will be issued at par with a nominal value of RMB 100 each, and the price inquiry range of the nominal interest rate of the bond with warrants is between 0.8% and 1.5%, the firm said in today’s press release. China International Capital Corp, Goldman Sachs Gao Hua Securities and CITIC Securities are arranging the sale, according to sources. Sinopec plans to use the proceeds to build a pipeline, so as to transport natural gas from Sichuan Province to Shanghai. In addition, the company expects to build two ethylene plants, each with an annual capacity of one million tons in Tianjin and Zhenhai. |
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