Sinopec Group $3.25 Billion Guaranteed Senior Notes Offering

Davis Polk advised the joint global coordinators and representatives of additional underwriters in connection with the Rule 144A/Regulation S offering by Sinopec Group Overseas Development (2017) Limited of $700 million 2.25% senior notes due 2020, $1.4 billion 2.50% senior notes due 2022, $750 million 3.25% senior notes due 2027 and $400 million 4.00% senior notes due 2047. The senior notes are guaranteed by China Petrochemical Corporation.

China Petrochemical Corporation is the largest integrated petroleum and petrochemical company in China and one of the largest in the world in terms of revenue. It is one of China’s key state-owned enterprises. 

The Davis Polk corporate team included partner James C. Lin, associate Sophia Mao and registered foreign lawyers Tae-Hun Kim, Ran Li and Xuelin (Steve) Wang. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Counsel Jeanine P. McGuinness and associate Britt Mosman advised on OFAC matters. Members of the Davis Polk team are based in the Hong Kong, Beijing, London and Washington DC offices.