Petron to raise $500M from offshore securities

PETRON Corp., the largest oil refining and marketing company in the Philippines, is seeking to raise $500 million from the sale of undated unsubordinated capital securities.

In a disclosure to the Philippine Stock Exchange (PSE) on Friday, Petron said it had set an issue size of $500 million for the offering of US-dollar denominated senior perpetual capital securities, with an expected issue date of January 19.