PetroChina eyes up to RMB 100 billion of debt instruments

By Mary-Katherine Stinson

Lexington, Ky., April 18 – PetroChina Co. Ltd. is proposing to issue up to RMB 100 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, repaying company debts and/or financing capital expenditures on project investments.

The proposed issuance will be considered for approval at the company’s annual general meeting on June 5.

The oil and gas company is based in Beijing.

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