Philippines' Petron peso-denominated bond offering increased to $400 million to $500 million

By Marisa Wong

Madison, Wis., Nov. 19 - Petron Corp. received approval on Thursday from the Bangko Sentral ng Pilipinas to issue an additional $100 million of peso-denominated bonds, according to a notice.

The total size of the issuance will be increased to between $500 million and $600 million from between $400 million and $500 million.

The original $400 million to $500 million Regulation S offering was approved on Oct. 19.

Proceeds from the issuance of the additional bonds will be used to finance the importation of crude oil and finished products.

Petron is an oil refining and marketing company based in Makati City, Philippines.

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