CNPC seals Rmb10bn EB offering

摘要

CHINA NATIONAL PETROLEUM CORP has raised Rmb10bn (US$1.47bn) from a public offering of five-year exchangeable bonds, the largest such offering in the Chinese domestic market. Institutional investors bought 70% of the securities and retail investors 30%. The coupon was set at the bottom of the guidance range of 1%-2%. The securities can be exchanged for petrochina A-shares 12 months from the issue date.