Inquirer
Petron lists P 32-B bonds after oversubscribed offering
Petron Corporation successfully raised P32 billion through its latest bond offering, which was oversubscribed.
The offering, the final tranche of Petron's P50 billion shelf registration, included a P25 billion base offer and an additional P7 billion.
The bonds have maturity periods of five to 10 years and annual interest rates between 6.5945% and 7.3896%.
Proceeds from the bond offering will be utilized for the redemption of Petron's Series D and E bonds, as well as for general corporate purposes.
Ramon Ang, Petron's president and CEO, stated that the strong response from investors demonstrates confidence in the company's long-term vision and commitment to energy security.
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