Sinopec Group to Issue HK$7.75 Billion Exchangeable Bonds

China Petroleum & Chemical ( (HK:0386) ) just unveiled an update.

China Petroleum & Chemical Corporation announced that its controlling shareholder, Sinopec Group, will issue exchangeable bonds worth HK$7.75 billion through its subsidiary Deep Development 2025 Limited. The issuance aims to refinance existing offshore indebtedness and will not affect the company’s control, production, or governance. The bonds, with a 0.75% coupon rate and a 7-year term, will be listed on the Hong Kong Stock Exchange, using H shares held by Sinopec Century Bright Capital Investment Limited as underlying shares.

The most recent analyst rating on (HK:0386) stock is a Hold with a HK$4.30 price target. To see the full list of analyst forecasts on China Petroleum & Chemical stock, see the HK:0386 Stock Forecast page.

More about China Petroleum & Chemical

China Petroleum & Chemical Corporation, also known as Sinopec, is a major player in the energy sector, primarily engaged in the exploration, production, and distribution of petroleum and petrochemical products. The company focuses on both domestic and international markets, offering a wide range of energy solutions.

Average Trading Volume: 164,564,912

Technical Sentiment Signal: Hold

Current Market Cap: HK$696.8B

See more data about 0386 stock on TipRanks’ Stock Analysis page.