Advertisement

Phoenix offering P3 billion in bonds on Dec. 11

Phoenix Petroleum Philippines Inc. filed a notice of offering for the third tranche of its commercial paper program amounting to P3 billion tentatively scheduled on December 11.

“Please be advised that the corporation intends to offer to the public in the Philippines the third series of the commercial paper program with an aggregate principal amount of P3 billion,” Phoenix disclosed to the Philippine Stock Exchange on Monday.

It said the commercial paper Series C would have a tenor of 360 days from the tentative issue date.

The company engaged PNB Capital as underwriter/arranger of the offering.

Phoenix expects to raise net proceeds of P2.817 billion from the offering, which it intends to use to refinance short-term loans that financed working capital requirements in relation to the regular importation of fuels and lubricants. 

Topics: Phoenix Petroleum Philippines Inc. , commercial paper program , Philippine Stock Exchange
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementGMA-Working Pillars of the House
Advertisement