Petron Corp issues $469 million peso eurobond

The energy company becomes the first Philippine corporate issuer to sell peso-denominated bonds to international investors following the success of the global peso sovereign.

Philippine energy giant Petron Corporation priced this year’s second international peso bond late on Wednesday -- a Ps20 billion $469 million seven-year bond with a 7% semi-annual coupon and yield. The deal was issued and reoffered at par and comes after the Philippine sovereign's successful Ps44.1 billion global peso bond in September. 

The Reg-S peso eurobonds, which are denominated in Philippine pesos but settled in US dollars, work better for the issuer than conventional dollar bonds since the...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES