SNP.L Regulatory News (SNP)

18 Feb 2008 07:00

China Petroleum & Chemical Corp18 February 2008 (a joint stock limited company incorporated in the People's Republic of China with limited liability) ANNOUNCEMENT ON PUBLIC ISSUANCE OF BONDS WITH WARRANTS Reference is made to the Sinopec Corp.'s announcements dated 27 September 2007,15 November 2007, 15 January 2008, 16 January 2008 and 31 January 2008 and thecircular to Shareholders dated 28 September 2007 in respect of the issuance ofBonds with Warrants. Unless otherwise defined herein, terms used in thisannouncement shall have the same meanings as in the said circular. The Board announces that the Bonds with Warrants of Sinopec Corp. in the amountof RMB 30,000,000,000 are to be publicly issued in Mainland China on 20 February2008. Sinopec Corp. hereby reproduces the information in relation to theissuance of the Bonds with Warrants as follows: 1. Issuance Size This issuance of Bonds with Warrants will be in an amount of not more thanRMB30, 000,000,000. 2. Issuance Price The Bonds with Warrants will be issued at par with a nominal value of RMB100each. 3. Term of the Bonds Six years since the date of issuance of the Bonds with Warrants, i.e.from 20 February 2008 to 20 February 2014. 1. Interest Rate of the Bonds with Warrants The price inquiry range of the nominal interest rate of the Bonds with Warrantsis between 0.8 % and 1.5 %. The nominal interest rate of the Bonds withWarrants will be determined by Sinopec Corp. and the sponsors (leadunderwriters) according to the results of the book-building process and theonline and off-line subscriptions. 2. Summary Information on the Warrants The holder of each lot (10) of the Bonds with Warrants is entitled to 101Warrants (A Share) to be issued by Sinopec Corp.. The term of the Warrants is 24months since the date of listing of the Warrants. The proportion of exerciserights for the Warrants is 2:1. The initial exercise price of the Warrants isRMB19.68 per A Share. 3. Credit Rating The credit is rated AAA by China Chengxin Credit Management Co., Ltd. 4. Institution of Guarantee China Petrochemical Corporation will provide guarantee for the issuance of theBonds with Warrants. 5. Method of Issuance Existing holders of Sinopec Corp.'s A Shares are entitled to preferentialsubscription rights in respect of the Bonds with Warrants. The remainingportion and the portion not taken up by existing holders of Sinopec Corp.'s AShares will be issued to corporate investors by way of off-line price inquiry oninterest rates, and to public investors by way of online subscription. 6. Proposed proportion of Off-line and Online Subscriptions The proportion of the Bonds with Warrants proposed to be issued to the corporateinvestors by way of off-line subscription and the proportion proposed to beissued to the public investors by way of online subscription each amounts to 50%of the total amount of the Bonds with Warrants. 7. There is no lock-up period in respect of the Bonds with Warrants(including the bonds and the warrants). By Order of the Board China Petroleum & Chemical Corporation Chen Ge Secretary to the Board of Directors Beijing, the PRC, 17 February 2008 As at the date of this Announcement, the directors of Sinopec Corp are Messrs.Su Shulin*, Zhou Yuan*, Wang Tianpu#, Zhang Jianhua#, Wang Zhigang#,Dai Houliang#, Fan Yifei*, Yao Zhongmin*, Shi Wanpeng+, Liu Zhongli+ andLi Deshui+. # Executive Directors* Non-executive Directors+ Independent Non-executive Directors This information is provided by RNS The company news service from the London Stock Exchange