PetroChina plans to sell up to RMB 100 billion of debt instruments

By Marisa Wong

Madison, Wis., March 31 - PetroChina Co. Ltd. said it plans to issue up to RMB 100 billion of debt instruments, which may include corporate bonds, short-term financing bonds or medium-term notes.

The instruments will have a maturity of no more than 30 years.

Proceeds will be used to satisfy operational and production needs, adjust debt structure, increase liquidity and finance capital expenditures on project investments.

The bond issuance is subject to shareholder approval at a meeting to be held on May 20.

PetroChina is a Beijing-based energy firm.

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