New Issue: China’s Sinopec prices $3 billion of 2.15%, 2.7% and 3.35% notes

Chicago, May 11 – China Petrochemical Corp. subsidiary Sinopec Group Overseas Development (2018) Ltd. sold $1 billion of 2.15% senior notes due 2025, $1.5 billion of 2.7% senior notes due 2030 and $500 million of 3.35% senior notes due 2050 (A1/A+), according to an offering document.

Citigroup, Goldman Sachs (Asia) LLC, J.P. Morgan, Bank of China, ICBC International and HSBC worked as joint global coordinators, joint lead managers and joint bookrunners.

Joining as joint lead managers and joint bookrunners were Agricultural Bank of China Ltd. Hong Kong Branch, Bank of Communications, China Construction Bank, CMB International, BofA Securities, Inc. Societe Generale Corporate & Investment Banking and UBS.

Proceeds from the Rule 144A and Regulation S offering will be used to refinance debt.

The notes are guaranteed by the parent, a Beijing-based petroleum and petrochemical company.

Issuer:	Sinopec Group Overseas Development (2018) Ltd.
Guarantor:	China Petrochemical Corp.
Issue:	Senior notes
Amount:	$3 billion
Bookrunners:	Citigroup, Goldman Sachs (Asia) LLC, J.P. Morgan, Bank of China, ICBC International, HSBC, Agricultural Bank of China Ltd. Hong Kong Branch, Bank of Communications, China Construction Bank, CMB International, BofA Securities, Inc. Societe Generale Corporate & Investment Banking and UBS
Trustee:	Citicorp International Ltd.
Pricing date:	May 6
Listing date:	May 13
Change of control:	At 101
Distribution:	Rule 144A and Regulation S
Ratings:	Moody’s: A1
	S&P: A+
Five-year notes
Amount:	$1 billion
Maturity:	May 13, 2025
Coupon:	2.15%
Price:	99.882
Call option:	Any time prior to April 13, 2025 make-whole call at Treasuries plus 30 basis points; thereafter at par
10-year notes
Amount:	$1.5 billion
Maturity:	May 13, 2030
Coupon:	2.7%
Price:	99.496
Call option:	Any time prior to Feb. 13, 2030 make-whole call at Treasuries plus 35 bps; thereafter at par
30-year notes
Amount:	$500 million
Maturity:	May 13, 2050
Coupon:	3.35%
Price:	Par
Call option:	Any time prior to Nov. 13, 2049 make-whole call at Treasuries plus 30 bps; thereafter at par

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