Sinopec Group to issue 10 billion short coupon 13th
KeywordsSinopec billion short margin
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China Petrochemical Group announced that the company is scheduled to issue 10 billion yuan this month, the period of 365 days of short-term financing vouchers. According to the announcement, this issue will be issued in accordance with the par value, using the inter-bank bond market bond issue system to open tender, the final coupon rate will be determined through the tender, bidding using a single interest rate (Dutch) tender method. This issue of short-term coupon using simple, regardless of compound interest. Through the comprehensive evaluation of the Joint Credit Evaluation Co., Ltd., the issuer's long-term credit rating is AAA, the outlook is stable, the credit level of the short-term financing coupon is a-1 level. There is no guarantee for this issue of short-term financing coupons. CCB and ICBC will act as the joint underwriter of this issue. According to the prospectus, the funds raised in this vote will be used to replace the bank loans, reduce the indirect financing ratio and improve the debt structure to further reduce the overall financing cost.
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