Petrochina seeks to issue up to RMB 100 billion of debt instruments

By Marisa Wong

Madison, Wis., April 2 - Petrochina Co. Ltd. is proposing to issue one or several types of debt financing instruments with maturities of up to 30 years, according to a company notice.

The total balance of the debt financing instruments, which may be denominated in renminbi or other currencies, will not be more than RMB 100 billion.

The company said it is seeking to issue bonds in order to satisfy operational and production needs, adjust debt structure, increase liquidity and reduce financing costs.

The proposed issuance is subject to shareholders' approval.

The oil and gas company is based in Beijing.

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