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| Thursday, August 28, 2008 13:54:28 |
Sinopec to issue $4.2b in expansion bonds
China Petroleum & Chemical Corporation (Sinopec) will sell US$4.18 billion (RMB30 billion) worth of six year bonds Wednesday to help fund development of a cross-country pipeline and new ethylene plants, the Oriental Morning Post reported. The 300 million bonds incorporate warrants that can be converted into Shanghai-traded stock at a ratio of one share for every two warrants. The company, which supplies two-thirds of the nation's auto fuels, needs ...
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