Shearman & Sterling has advised state-owned China National Petroleum Corp. on a $1.5 billion bond offering on the Hong Kong Stock Exchange.

Through a wholly-owned subsidiary, China’s largest oil and gas company sold dollar-denominated bonds in one $750 million tranche of three-year notes and one $750 million tranche of five-year notes.

Hong Kong partner Matthew Bersani and counsel Alan Yeung led a Shearman team advising the issuer that also included Washington D.C. partner Philip Urofsky and Hong Kong partner Lorna Chen. Jun He Law Offices acted as Chinese counsel to CNPC.

Davis Polk & Wardwell Hong Kong partner Eugene Gregor advised underwriters Citigroup, Standard Chartered Bank and BOC International. King & Wood Mallesons served as the banks’ Chinese counsel.