Phoenix Petroleum approves P3.5-B short-term commercial paper

Phoenix Petroleum Philippines has approved the registration of short-term commercial paper (STCP) worth P3.5 billion, according to a disclosure from the Philippine Stock Exchange (PSE) Monday.

The company said its Board of Directors had approved the “registration of existing STCP issued by the Company on October 13, 2014 for P2 billion and February 23 for P1.5 billion with the Securities and Exchange Commission (SEC) which will expire on October 13, 2015.”