Petron Corp. has cued the issuance of US dollar-denominated senior perpetual capital securities for repayment of debts and for general purposes.
“[T]he executive committee of the board of directors authorized the company to issue [the securities], under such terms and conditions as management may determine,” the company said in a disclosure.
Sole crude oil refiner
The Philippines’ sole crude oil refiner said the securities could be sold, subject to laws and regulations, here, in the United Kingdom, Singapore, Hong Kong and Japan.
Petron’s current liabilities at the end of the third quarter of 2020 had reached about P126.22 billion. The firm sustained an P11.4-billion net loss in …
Keep on reading: Petron to issue dollar-denominated senior perpetual bonds