Sinochem exercises first call for 3% subordinated perpetuals

By William Gullotti

Buffalo, N.Y., Sept. 28 – Sinochem Offshore Capital Co. Ltd. will exercise its first call option for its $500 million 3% guaranteed subordinated perpetual securities, according to a redemption notice on Thursday.

The subordinated perpetuals were issued Oct. 29, 2020 under the company’s $15 billion medium-term note and perpetual securities program and guaranteed by Sinochem (Hong Kong) Group Co. Ltd.

Sinochem will redeem the entire series on Oct. 29 at par plus any accrued and unpaid distributions.

The issuer is a food-processing company based in Beijing.

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