22 April, 2017
Davis Polk advised the joint global coordinators and representatives of additional underwriters in connection with the Rule 144A/Regulation S offering by Sinopec Group Overseas Development (2017) Limited, of $1 billion 2.375% senior notes due 2020, $1.1 billion 3.000% senior notes due 2022, $1 billion 3.625% senior notes due 2027 and $300 million 4.250% senior notes due 2047. The senior notes are guaranteed by China Petrochemical Corporation.
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 partner James C. Lin and registered foreign lawyers Tae-Hun Kim, Sam Huang and Ran Li. Partner John D. Paton, counsel Alon Gurfinkel and associate Veronica Orecharova provided tax advice. Counsel Jeanine P. McGuinness advised on OFAC matters. Members of the Davis Polk team are based in the Hong Kong, Beijing, London and Washington DC offices.
