DTI Opens Applications for E-commerce Trustmarks

Petron Corp., the country's only oil refiner, is confident in its growth prospects following the listing of its P32-billion bond offer, highlighting strong investor confidence.

- By Brix Lelis

"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 CEO Ramon Ang said.

The company listed its fixed-rate retail bonds on the Philippine Dealing and Exchange Corp. early this week, raising P32 billion from an oversubscribed offer, energy security and delivering quality petroleum products across the country," Ang said.

Petron's offer comprises Series G, Series H and Series I bonds with annual interest rates of 6.5945 percent due 2030, 6.9761 percent due 2032 and 7.3896 percent due 2035, respectively.

Notably, the bonds' interest rates were priced at the low end of the marketing range, Petron said.