PetroChina eyes up to RMB 150 billion of debt instruments

By Rebecca Melvin

New York, April 22 – PetroChina Co. Ltd. is proposing to issue up to RMB 150 billion of debt financing instruments, according to a company announcement.

The debt financing instruments, which may be denominated in renminbi or other currencies, will have maturities of no more than 30 years.

The proceeds will be used for operational and production needs, adjustments of debt structure, increasing liquidity and reducing financing costs.

The proposed issuance will be considered for approval at the company’s annual general meeting on June 11.

The oil and gas company is based in Beijing.

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