PetroChina has announced today that it will issue RMB20bn worth of bonds from November 22. The bonds will be divided into 5-year-term, 10-year-term and 15-year-term. RMB12bn, RMB4bn and RMB4bn will be issued to each term respectively, SinoShipNews reports.
According to the announcement, only 5-year-term bonds will be sold to public investors and 10-year-term bonds and 15-year-term bonds will be sold to institutional investors.
PetroChina said it will use RMB10bn from the raised fund to repay a loan of the same amount in order to adjust the group’s debt structure, and the rest of the raised fund will be used to replenish circulation funds.
2012 November 21 15:36