Petron to issue new securities
Petron Corp. plans to issue dollar-denominated securities to refinance the $750-million securities it listed on the Hong Kong bourse.
In a disclosure to the Philippine Stock Exchange, Petron said it would seek the security holders’ consent to issue the new securities.
The securities issued in 2013 was used to fund the expansion of the Limay refinery in Bataan.
Petron earlier said it was looking to increase the refinery’s capacity to 300,000 barrels a day from the current 180,000 barrels.