By Christine Van Dusen
Atlanta, Jan. 30 - Philippines-based Petron Corp. sold $500 million perpetual notes at par to yield 7½%, a market source said.
The notes were talked at a yield of 7 3/8% to 7½%.
Deutsche Bank, HSBC, Standard Chartered Bank and UBS were the bookrunners for the Regulation S deal.
The proceeds will be used to fund capital expenditures.
Petron is a Makati City, Philippines-based oil refining and marketing company.
| Issuer: | Petron Corp.
|
| Amount: | $500 million
|
| Maturity: | Perpetual
|
| Description: | Notes
|
| Bookrunners: | Deutsche Bank, HSBC, Standard Chartered Bank, UBS
|
| Coupon: | 7½%
|
| Price: | Par
|
| Yield: | 7½%
|
| Trade date: | Jan. 30
|
| Distribution: | Regulation S
|
| Price talk: | 7 3/8% to 7½%
|
© 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.
