THE Securities and Exchange Commission (SEC) has allowed Petron Corp. to issue fixed-rate bonds worth P20 billion to repay debt. Approved by Petron’s board on August 7, the bonds represent the final tranche of its P40-billion, three-year shelf registration program that the SEC approved in October 2016. Petron earlier told the bourse the bonds would be listed on the Philippine Dealing and Exchange Corp. (PDEx) after securing SEC approval. BDO Capital and Investment Corp. and BPI Capital Corp. are the joint issue managers. Based on Department of Energy data, the oil company has a 53.4-percent market share in the first half of 2018.
Source: Manila Times October 08, 2018 18:22 UTC