Petron Corp. said Monday it received valid tenders amounting to $37.48 million from holders of outstanding $500-million senior perpetual capital securities.
Petron conducted a tender offer to purchase up to $50 million of the outstanding securities.
It said that following the expiration deadline at 4 p.m. on Jan. 12, it was accepting for purchase $22,470,000 in aggregate principal amount of securities at a purchase price of $927 per $1,000.
Petron said the payment date for the settlement of the tender offer is expected to be on Jan. 19.
The securities that will remain outstanding is $477.53 million after the settlement date.
Mizuho Securities Asia Ltd. was appointed as dealer manager for the tender offer and Morrow Sodali Limited was engaged as the information and tender agent for the tender offer. Alena Mae S. Flores
