New Issue: Sinochem sells $1.5 billion notes in three parts due 2024, 2026, 2031

By Marisa Wong

Los Angeles, Sept. 24 – Sinochem Offshore Capital Co. Ltd. issued $1.5 billion of notes (A-/A) guaranteed by Sinochem Hong Kong (Group) Co. Ltd. in three tranches, according to a notice.

The tranches include $400 million of 1% notes due 2024 priced at 99.779, $600 million of 1˝% notes due 2026 priced at 99.593 and $500 million of 2 3/8% notes due 2031 priced at 99.699.

The notes were issued under the company’s $10 billion medium-term note and perpetual securities program.

Standard Chartered Bank, Citigroup Global Markets Ltd., Credit Agricole CIB, China Securities (International) Corporate Finance Co. Ltd., CLSA Ltd., Mizuho Securities Asia Ltd., Hongkong and Shanghai Banking Corp. Ltd., CMB International Capital Ltd. and UBS AG Hong Kong Branch are managers of the Regulation S offering.

The issuer is a food-processing company based in Beijing.

Issuer:	Sinochem Offshore Capital Co. Ltd.
Guarantor:	Sinochem Hong Kong (Group) Co. Ltd.
Issue:	Notes
Amount:	$1.5 billion
Managers:	Standard Chartered Bank, Citigroup Global Markets Ltd., Credit Agricole CIB, China Securities (International) Corporate Finance Co. Ltd., CLSA Ltd., Mizuho Securities Asia Ltd., Hongkong and Shanghai Banking Corp. Ltd., CMB International Capital Ltd. and UBS AG Hong Kong Branch
Pricing date:	Sept. 14
Settlement date:	Sept. 23
Listing date:	Sept. 24
Listing:	Hong Kong
Ratings:	S&P: A-
	Fitch: A
Distribution:	Regulation S
2024 notes
Amount:	$400 million
Maturity:	Sept. 23, 2024
Coupon:	1%
Price:	99.779
Call features:	Make-whole call at Treasuries plus 10 bps before Aug. 23, 2024, par call after that
Put option:	No
ISIN:	XS2387356459
2026 notes
Amount:	$600 million
Maturity:	Sept. 23, 2026
Coupon:	1˝%
Price:	99.593
Call features:	Make-whole call at Treasuries plus 15 bps before Aug. 23, 2026, par call after that
Put option:	No
ISIN:	XS2387357341
2031 notes
Amount:	$500 million
Maturity:	Sept. 23, 2031
Coupon:	2 3/8%
Price:	99.699
Call features:	Make-whole call at Treasuries plus 20 bps before June 23, 2031, par call after that
Put option:	No
ISIN:	XS2387368975

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