Sinopec, the world’s largest energy company by revenue, made a smooth return to the international bond market on Wednesday, selling a $3.4 billion four-tranche deal.
The 144AReg deal was launched on Wednesday morning, and bankers covered the entire book in the first few hours, according to two syndicate bankers running the deal. The peak order book reached $5.75 billion before the release of final price guidance, making it one of the most heavily-subscribed deals of the year.
The Aa3A rated company took advantage of a constructive market environment, with corporate bond yields in the region hovering near a record low. The Asia ex-Japan iTraxx...
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