Bloomberg News

Sinopec Said to Sign $257 Million 3-Year Loan With 14 Banks

May 18, 2012

China Petroleum & Chemical Corp. (600028) signed a three-year, $257 million loan, according to a person familiar with the matter.

The facility for Sinopec, as the company is known, was increased in size from $150 million and signed with 14 banks, the person said, asking not to be identified because the details are private.

Annie Choi at Brunswick Group LLP in Hong Kong, which handles media relations for Sinopec, didn’t immediately reply to an e-mail seeking comment on the financing.

Sinopec Century Bright Capital Investment Ltd. is borrowing the funds and the loan pays a margin of 150 basis points more than the London interbank offered rate and an all-in fee of 183 basis points, the person said.

*T Full list of banks and allocations, according to a person familiar with the matter.

Mizuho Corporate Bank Ltd. $60 million Bank of Taiwan $40 million Taiwan Cooperative Bank $40 million Land Bank of Taiwan $20 million Export-Import Bank of the Republic of China $12 million Bank Sinopac $10 million Chang Hwa Commercial Bank (2801) $10 million First Commercial Bank Co. $10 million Hua Nan Commercial Bank Ltd. $10 million Mega International Commercial Bank Co. $10 million Sunny Bank Ltd. $10 million Taichung Commercial Bank (2812) $10 million Shin Kong Financial Holding Co. $10 million Taishin International Bank $5 million

To contact the reporter on this story:
Katrina Nicholas in Singapore at

To contact the editor responsible for this story:
Shelley Smith at

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