Comments 
Print 
Mail 
Large Medium SmallChina Petrochemical Corp, or Sinopec, said on Tuesday it has helped its two subsidiaries to land a $3.5 billion syndicated loan.
The loan will be used by Tiptop Energy and Sinopec Century Bright Capital Investment for general corporate purposes.
The loan rate has a margin of 1.23 percent above Libor, or the London Interbank Offered Rate. Sinopec said it gave an "unconditional and irrevocable" guarantee on the loan.
China Construction Bank, the Bank of Tokyo-Mitsubishi, Citi, the Hong Kong and Shanghai Banking Corp, Royal Bank of Scotland, and United Overseas Bank were hired as underwriters and book runners.
To cater to strong market demand, the loan was increased to $3.5 billion from the original $2.5 billion.
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
