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Hmmm .. Sinopec Plans To Issue CNY20 Bln 3-Year Notes Friday

Sinopec Plans To Issue CNY20 Bln 3-Year Notes Friday

Last Update: 6/22/2009 10:35:05 PM

SHANGHAI (Dow Jones)--China Petroleum & Chemical Corp. (SNP), or Sinopec, said
Tuesday it plans to issue CNY20 billion ($2.93 billion) three-year medium-term
notes on the interbank market Friday.

Sinopec, Asia's largest refiner by capacity, said in a statement it will use the
proceeds to supplement working capital and repay bank loans.

Industrial & Commercial Bank of China Ltd. and China Construction Bank Corp. are
the deal's main underwriters, it said.

-Wang Ming contributed to this story; Dow Jones Newswires; (86-21) 6120-1200;
[e-mail]

(END) Dow Jones Newswires

June 22, 2009 22:35 ET (02:35 GMT)