China's Sinopec (SNP +1.2%), Asia's biggest oil refiner, sold $3.5B in U.S. dollar bonds...

|By:, SA News Editor

China's Sinopec (SNP +1.2%), Asia's biggest oil refiner, sold $3.5B in U.S. dollar bonds yesterday in Asia's biggest bond offering in a decade. Demand was strong, as investors submitted bids totaling more than 4x the debt on offer; SNP is attractive to Western investors partly because it's deemed a proxy for exposure to the world's second-largest economy.