Sinochem sets up $15 billion MTN, perpetual securities program

By Marisa Wong

Los Angeles, Sept. 13 – China’s Sinochem Offshore Capital Co. Ltd. plans to make offerings under a $15 billion medium-term note and perpetual securities program guaranteed by parent company Sinochem Hong Kong (Group) Co. Ltd., according to an announcement.

Standard Chartered Bank, BOC International and Citigroup are the arrangers for the Regulation S and Rule 144A program.

Standard Chartered Bank, BOC International, Credit Agricole CIB, Citigroup, DBS Bank, JPMorgan, Societe Generale CIB, ICBC (Asia), China Securities International, CMB International, CLSA and CMBC Capital are dealers.

Proceeds will be used to refinance existing debt.

Sinochem is a Hong Kong-based subsidiary of Chinese conglomerate Sinochem, which is mainly involved in petrochemicals and fertilizer.

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