SINOPEC CORP (00386.HK) -0.040 (-0.973%) Short selling $47.14M; Ratio 24.709% has received a notification from Sinopec Group, the controlling shareholder of the Company, that Deep Development 2025 Limited, a wholly-owned offshore subsidiary of Sinopec Group, as the issuer, and Sinopec Group as the guarantor, will issue exchangeable bonds in Hong Kong, with H shares of the Company held by Sinopec Century Bright Capital Investment Limited, a wholly-owned offshore subsidiary of Sinopec Group, as the underlying shares, according to SINOPEC CORP's announcement.The bonds have a seven-year term, with an initial exchange price of $6 and a coupon rate of 0.75%. The aggregate principal amount was $7.75 billion, and the funds are expected to be used for refinancing existing medium and long-term offshore indebtedness. Related NewsHSBC Research Cuts TPs for 3 CN Oils, Expects 2Q25 Oil Sector Earnings to Fall, Names PETROCHINA as Top PickThe book-building and pricing of the exchangeable bonds issuance has been completed, and settlement has not yet been completed. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-15 12:25.)