China's PetroChina announces 60 billion yuan debt program

By Aaron Hochman-Zimmerman

New York, June 11 - PetroChina Co. Ltd. announced its board has authorized it to issue a bond in one or more tranches worth up to 60 billion yuan, according to a release.

The domestic bonds will be issued to holders of the company's A shares and have a maturity of 15 years or less.

Proceeds will be used for mid- and long-term capital requirements.

PetroChina is a Beijing-based energy firm.

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