Petron to raise $500 million from notes issuance

Danessa Rivera – The Philippine Star January 13, 2022 | 12:00am MANILA, Philippines — Petron Corp., the country’s only refiner, is planning to tap the offshore debt market this year, targeting to raise up to $500 million from a notes issuance to settle obligations and finance a power project. In a disclosure to the Philippine Stock Exchange yesterday, Petron said it secured board authorization to offer and issue up to $500 million worth of senior notes, “under such terms and conditions as management may determine.” In its preliminary prospectus, the company said proceeds of the issuance would …

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