Philippines’ Petron to offer up to $500 million senior notes

By Marisa Wong

Los Angeles, Jan. 12 – Petron Corp. plans to issue up to $500 million of dollar-denominated senior notes, according to a notice.

DBS Bank, HSBC, MUFG, SMBC Nikko, Standard Chartered Bank and UBS are the joint lead managers and joint bookrunners for the proposed offering. HSBC will act as global coordinator.

Proceeds will be used to repay debt and to partially finance a power plant project.

Petron is an oil company controlled by conglomerate San Miguel Corp. Both companies are based in Mandaluyong City, Philippines.

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