OREANDA-NEWS. May 25, 2012. Sinochem Corporation succeeded in issuing RMB 3 billion five-year medium-term notes and RMB 3 billion one-year short-term financing bonds on China’s inter-bank market. The issuance obtained AAA rating from China Chengxin International Credit Rating Co., Ltd. (CCXI) and extensive market recognition with the subscription amount in excess of RMB 20 billion. The notes and bonds were issued at the lower limit and at the guiding interest rates with the interest rate of medium-term notes being 4.92% and the interest rate of short-term financing bonds being 4.46%. The funds raised will be mainly used to supplement the company’s working capital and repay loans from banks.

The issuance is Sinochem Corporation’s first issuance of its kind in 2012 and has been the direct financing of Sinochem Corporation with the largest single issuance scale on the domestic market since its inception, which is conducive to the company’s further optimizing of the financing structure and provides strong guarantee for healthy, rapid and sustainable development of the company.