MAJOR oil refiner and distributor Petron Corp. On Thursday announced the yield rates for its P20 billion bond offer, proceeds of on the way to be used particularly to refinance current debt.
In its offer supplement, Petron said the Series A bonds will deliver a four.0032-percentage annual yield whilst the Series B bonds will have a 4.5219-percent in line with annum yield.
Series A can have a tenor of five years due 2021 and Series B can have tenor of seven years due 2023. The base provide is P15 billion with an oversubscription choice of P5 billion.
The P20-billion initial tranche is part of Petron’s planned P40-billion bond imparting underneath shelf registration with the Securities and Exchange Commission (SEC). The remaining P20 billion beneath shelf registration can be supplied to the public within three years.
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