PetroChina issues CNY20bn bonds to increase liquidity

20 November 2012 07:48  [Source: ICIS news]

SINGAPORE (ICIS)--China’s largest oil and gas producer PetroChina said on Tuesday that it will issue yuan (CNY)20bn ($3.2bn) worth of corporate bonds in China to pay back its debts and replenish its working capital.

The bonds cover CNY12bn of five-year, CNY4bn of 10-year and another CNY4bn of 15-year maturity, it said.  

They will be sold on 22-26 November and the interest rates will be decided on subscriptions.

This is the company’s first bond issuance this year and also the first batch of the CNY40bn bonds quota approved in China.

($1 = CNY6.24)

By: Fanny Zhang
+65 6780 4359

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