Sinopec Receives $5B Loan
Chinese oil company, Sinopec, has increased a five-year loan from $3.8 billion to $5 billion.
Chinese oil company, Sinopec, has increased a five-year loan from $3.8 billion to $5 billion, Reuters reports. ANZ, Bank of Tokyo-Mitsubishi, Citigroup, HSBC, Mizuho Corporate Bank and UOB agreed to underwrite $3.8 billion equally and the deal was launched into general syndication.
Bank of America Merrill Lynch, JP Morgan and Sumitomo Mitsui Banking also joined the loan, opting for $400 million each and bringing the loan size to $5 billion. A total of 11 lenders joined in general syndication, leading to a combined sell down of $1.015 billion.
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