Petron Corp. has successfully raised ₱32 billion from its latest fixed rate bond issuance, concluding the final tranche of its ₱50-billion shelf registration program with the Securities and Exchange Commission (SEC).
The offering, listed Monday on the Philippine Dealing & Exchange Corp. (PDEx), was oversubscribed by 1.3 times against the ₱25-billion base offer. The oil firm said the funds will support the redemption of its Series D and E bonds, along with other general corporate purposes.
“This strong response underscores not only the success of another fundraising initiative but also the confidence investors have in our long-term vision,” said Petron President and CEO Ramon S. Ang.
The bonds were offered to the public from 24 to 30 June 2025, with tenors and rates as follows:
- 5-year bonds (due 2030): 6.5945 percent p.a.
- 7-year bonds (due 2032): 6.9761 percent p.a.
- 10-year bonds (due 2035): 7.3896 percent p.a.
PNB Capital and Investment Corp. served as sole issue manager. Joint lead underwriters and bookrunners included BDO Capital, Bank of Commerce, China Bank Capital, First Metro Investment, Land Bank, and Philippine Commercial Capital. Several institutions, including BPI Capital and RCBC Capital, acted as selling agents.
The bond sale reinforces Petron’s market positioning and financial strategy as it continues to operate the country’s only oil refinery in Limay, Bataan, with a 180,000-barrel-per-day capacity.
