Philippines' Petron to issue PHP 10 billion or more fixed-rate notes

By Angela McDaniels

Tacoma, Wash., April 22 - Petron Corp. said it plans to raise at least PHP 10 billion this year through a combination of fixed-rate corporate notes and retail bonds.

Details are being finalized, and the company is preparing the requirements for the necessary regulatory approvals, Petron said in a letter to the Philippine Stock Exchange.

The proceeds will be used to fund capital expenditures related to the company's expansion program.

The letter was written in response to the exchange's request for clarification of a news article reporting that Petron planned to issue notes or bonds soon.

Petron is an oil company based in Makati City, the Philippines.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.