25. SHORT-TERM AND LONG-TERM DEBTS AND LOANS FROM SINOPEC GROUP COMPANY AND FELLOW SUBSIDIARIES
Short-term debts represent:
|
|
|
December 31, |
|
||
|
|
|
2016 |
|
2017 |
|
|
|
|
RMB |
|
RMB |
|
|
Third parties’ debts |
|
|
|
|
|
|
Short-term bank loans |
|
11,944 |
|
31,105 |
|
|
|
|
|
|
|
|
|
RMB denominated |
|
10,931 |
|
23,685 |
|
|
US Dollar denominated |
|
1,013 |
|
7,420 |
|
|
Short-term other loans |
|
— |
|
299 |
|
|
|
|
|
|
|
|
|
RMB denominated |
|
— |
|
299 |
|
|
Current portion of long-term bank loans |
|
8,795 |
|
1,402 |
|
|
|
|
|
|
|
|
|
RMB denominated |
|
8,753 |
|
1,379 |
|
|
US Dollar denominated |
|
42 |
|
23 |
|
|
Current portion of long-term corporate bonds |
|
29,500 |
|
22,532 |
|
|
|
|
|
|
|
|
|
RMB denominated |
|
29,500 |
|
16,000 |
|
|
US Dollar denominated |
|
— |
|
6,532 |
|
|
|
|
|
|
|
|
|
|
|
38,295 |
|
23,934 |
|
|
|
|
|
|
|
|
|
Corporate bonds (i) |
|
6,000 |
|
— |
|
|
|
|
56,239 |
|
55,338 |
|
|
|
|
|
|
|
|
|
Loans from Sinopec Group Company and fellow subsidiaries |
|
|
|
|
|
|
Short-term loans |
|
18,430 |
|
23,297 |
|
|
|
|
|
|
|
|
|
RMB denominated |
|
2,858 |
|
1,706 |
|
|
US Dollar denominated |
|
13,577 |
|
19,668 |
|
|
Hong Kong Dollar denominated |
|
1,969 |
|
1,903 |
|
|
Euro denominated |
|
5 |
|
— |
|
|
Singapore Dollar denominated |
|
21 |
|
20 |
|
|
Current portion of long-term loans |
|
150 |
|
2,014 |
|
|
|
|
|
|
|
|
|
RMB denominated |
|
150 |
|
2,014 |
|
|
|
|
18,580 |
|
25,311 |
|
|
|
|
|
|
|
|
|
|
|
74,819 |
|
80,649 |
|
|
|
|
|
|
|
|
The Group’s weighted average interest rates on short-term loans were 2.42% and 2.72% as of December 31, 2016 and 2017, respectively. The above borrowings are unsecured.
Long-term debts represent:
|
|
|
|
|
December 31, |
|
||
|
|
|
Interest rate and final maturity |
|
2016 |
|
2017 |
|
|
|
|
|
|
RMB |
|
RMB |
|
|
Third parties’ debts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term bank loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RMB denominated |
|
Interest rates ranging from 1.08% to 4.66% per annum as of December 31, 2017 with maturities through 2030 |
|
26,058 |
|
25,644 |
|
|
|
|
|
|
|
|
|
|
|
US Dollar denominated |
|
Interest rates ranging from 1.55% to 4.29% per annum as of December 31, 2017 with maturities through 2031 |
|
426 |
|
192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,484 |
|
25,836 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds(ii) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RMB denominated |
|
Fixed interest rates ranging from 3.30% to 5.68% per annum as of December 31, 2017 with maturities through 2022 |
|
65,500 |
|
36,000 |
|
|
US Dollar denominated |
|
Fixed interest rates ranging from 1.88% to 4.25% per annum as of December 31, 2017 with maturities through 2043 |
|
18,985 |
|
17,902 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
84,485 |
|
53,902 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total third parties’ long-term debts |
|
110,969 |
|
79,738 |
|
||
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
Less: Current portion |
|
|
|
(38,295 |
) |
(23,934 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
72,674 |
|
55,804 |
|
|
|
|
|
|
|
|
|
|
|
Long-term loans from Sinopec Group Company and fellow subsidiaries |
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
RMB denominated |
|
Interest rates ranging from interest free to 4.99% per annum as of December 31, 2017 with maturities through 2022 |
|
44,922 |
|
45,334 |
|
|
|
|
|
|
|
|
|
|
|
Less: Current portion |
|
|
|
(150 |
) |
(2,014 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
44,772 |
|
43,320 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
117,446 |
|
99,124 |
|
|
|
|
|
|
|
|
|
|
Short-term and long-term bank loans, short-term other loans and loans from Sinopec Group Company and fellow subsidiaries are primarily unsecured and carried at amortized cost.
Note:
(i) The Company issued 182-day corporate bonds of face value RMB 6 billion to corporate investors in the PRC debenture market on September 12, 2016 at par value of RMB 100. The effective cost of the 182-day corporate bonds is 2.54% per annum. The short-term bonds were due on March 14, 2017 and have been fully paid by the Group at maturity.
(ii) These corporate bonds are carried at amortized cost. As of December 31, 2017, RMB 17,902 (US Dollar denominated corporate bonds) are guaranteed by Sinopec Group Company.