• Phoenix Petroleum re-issues P1.49B in short term papers

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    Phoenix Petroleum Philippines Inc. re-issued P1.49-billion worth of Short Term Commercial Paper (STCP) on Thursday.

    In a disclosure from the Philippine Stock Exchange, Phoenix said the paper will mature on February 22, 2016 after 123 days. It will have an interest rate of 3.75 percent.

    The conglomerate added the first tranche of paper, amounting to P2 billion, has already matured on October 13.

    Phoenix offered a total of P3.49 billion STCP.

    The firm is engaged in trading refined petroleum products and lubricants, operating oil depots and storage facilities, shipping and logistics and other allied services.

    The subsidiaries of the company are: PFL Petroleum Management Inc., Phoenix Petroterminals and Industrial Park Corp., Subic Petroleum Trading and Transport Phils Inc. and Chelsea Shipping Corp.

    PNA

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