China Petroleum & Chemical Corp. (SNP), or Sinopec, on Thursday priced CNY20 billion (US$2.93 billion) worth of bonds, in the country's largest issue of exchange-traded corporate debt, two people familiar with the situation said.

Sinopec, Asia 's largest refiner by capacity, set the yield for the CNY10 billion five-year tranche at 3.75%, in the middle of the 3.50%-4.00% indicative range it set earlier this week, said the people, who declined to be named.

The state-run refiner also set the yield for the CNY10 billion 10-year tranche at 4.05%, close to the center of the 3.85%-4.35% indicative range, they added.

Sinopec had initially planned to offer CNY5 billion worth of five-year bonds and CNY15 billion 10-year bonds but changed the amounts at the last minute to meet shifts in demand, the people said.

The bonds will be listed and traded on the Shanghai Stock Exchange.
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