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Home » Listing Ceremonies » Petron Lists Maiden PhP 20 Billion Bonds on PDEx

Petron Lists Maiden PhP 20 Billion Bonds on PDEx

Posted on: October 27, 2016

PCOR Photo Release V2

27 October 2016, Makati Philippines – Petron Corporation (PCOR) debuted in the secondary debt market with the issuance and listing of its PhP 20 Billion PCOR Series A Bonds Due 2021 and Series B Bonds Due 2023.

Petron’s listed bonds, which carry interest rates of 4.0032% per annum and 4.5219% per annum respectively, have been rated “PRS Aaa” by the Philippine Rating Services Corporation.  This is the highest rating assigned by PhilRatings, reflecting the Issuer’s extremely strong capacity to meet its financial commitment.

With Petron’s maiden listing, the total outstanding listed issues of San Miguel Group, including San Miguel Beer, SMC Global Power and South Luzon Tollway Corporation, totaled PHP 80.11 Billion, accounting for 13% of the overall outstanding listed bonds on PDEx.

PDS Group President and CEO Cesar B. Crisol said in his welcome remarks: “As Petron has grown its presence in major business segments such as aviation, power generation and LPG, we are certain that Petron will go the extra mile in offering diversified and sustainable investment options responsive to the needs of our market community.”

Petron Senior Vice President and CFO Emmanuel E. Eraña remarked: “The strong response to our retail bonds underscores the trust and confidence of the investing public and our partner institutions in Petron. It affirms the Company’s market leadership backed by the biggest refining capacity in the country as well as an extensive logistics and retail network, sound financials and growth potential, including synergies with the San Miguel Group. Moreover, it validates the strategic programs we have executed with the aim of sustaining the Company’s growth and profitability over the long-term.”

This eleventh listing for the year brings the year-to-date total of new listings to PhP 94.69 Billion and the total level of tradable corporate debt instruments to PhP 621.89 billion issued by 38 companies, comprised of 112 securities.

The event was held at the PDS Group Assembly Hall and was graced by Petron Senior Vice President and CFO Emmanuel E. Eraña, Petron Vice President and Treasurer Albertito S. Sarte, and San Miguel Corporation Senior Vice President and Deputy CFO Joseph N. Pineda.

The issue participants were also present including BDO Capital & Investment Corporation President Eduardo V. Francisco, BPI Capital Corporation President Juan Carlos L. Syquia, Security Bank Corporation Senior Vice President Mariza Arcilla, East West Banking Corporation Head of Investment Banking Roberto Fernandez, PNB Capital and Investment Corporation Senior Vice President Victor B. Abad and First Metro Investment Corporation First Vice President Francisco Javier P. Bonoan. #

Press Release PCOR Bonds Due 2021 and 2023 FINAL

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