Beijing: 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.
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. [20/11/12]