Davis Polk advised the dealers in connection with the update of the $3 billion medium-term notes program by Sinopec Century Bright Capital Investment Limited, guaranteed by China Petrochemical Corporation. Davis Polk also advised the joint lead managers in connection with the first drawdown under the program, which consists of HK$1.2 billion 3.15% notes due 2020 and RMB$1 billion 4.50% notes due 2021.
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 partners James C. Lin, Paul Chow and Gerhard Radtke, European counsel John Taylor and counsel Bingqing Pan. Partner Jonathan Cooklin and associate Dominic Foulkes provided tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.