Petron Corp., the Philippines’ largest oil company, raised P32 billion from the issuance of fixed-rate bonds listed on the Philippine Dealing and Exchange Corporation (PDEx) on Monday.
The oil company said in a statement the issuance marked the final tranche of its P50-billion shelf registration approved by the Securities and Exchange Commission.
“The strong response underscores not only the success of another fundraising initiative but also the confidence investors have in our long-term vision,” Petron president and chief executive Ramon Ang said.
The amount raised represents nearly 1.3-times oversubscription of the P25-billion base offer, resulting in an oversubscription of P7 billion pesos, Petron said.
The 5-year bonds maturing in 2030 yield 6.5945-percent per annum, the 7-year bonds maturing in 2032 carry an interest rate of 6.9761-percent per annum and the 10-year bonds maturing in 2035 yield 7.3896-percent per annum.
Petron operates the country’s only remaining refinery in Limay, Bataan, with a capacity of 180,000 barrels per day.
The bonds were offered to the public from June 24 to 30, 2025.
Petron said the proceeds would be used to redeem the company’s Series D and E bonds and fund general corporate purposes.
