Sinopect to issue 10 billion yuan worth of short-term bonds

China's largest refiner Sinopec plans to issue 10 billion yuan (about 1.25 billion U.S. dollars) worth of short-term bonds starting from Wednesday.

The 182-day bonds will be issued via public bidding, Xinhua-run Shanghai Securities News says on Monday, without further elaboration.

On May 16, Sinopec also issued 10 billion yuan worth of short-term bonds.

Sinopec (China National Petrochemical Corporation) carries an A-1 short-term credit rating and its long-term credit rating stands at AAA, the report says.

Source: Xinhua