Skadden, Arps, Slate, Meagher & Flom has advised state-owned China Petrochemical Corp., also known as Sinopec, on a $1 billion senior notes offering.
Through a subsidiary, China’s largest oil company sold three-tranches of dollar-denominated bonds: $300 million in three-year notes bearing a 1.75 percent coupon, $400 million in 10-year bonds with a 4.375 percent interest rate and $300 million in three-year floating-rate notes.
Beijing partner Peter Huang, Hong Kong partner Edward Lam and Los Angeles partner Michael Beinus led the Skadden team representing Sinopec. Haiwen & Partners served as Sinopec’s Chinese counsel with Conyers Dill & Pearman acting as British Virgin Islands counsel.
Davis Polk & Wardwell Hong Kong partner Eugene Gregor led a team acting for underwriters Citigroup Global Markets Inc., Goldman Sachs (Asia), BOCI Asia Ltd., DBS Bank Ltd. and Standard Chartered Bank.
Skadden’s Huang and Lam also teamed up with Davis Polk’s Gregor in April on a $5 billion bond issue by Sinopec.