Petron lists P32 billion fixed rate bonds on PDEx

Petron Corporation, the country’s largest oil company, successfully raised P32 billion through its issuance of fixed rate bonds listed today, July 7, on the Philippine Dealing and Exchange Corporation (PDEx). The issuance marks the final tranche of the company’s P50-billion shelf registration approved by the Securities and Exchange Commission (SEC).

The total amount raised represents nearly a 1.3x oversubscription of the P25 billion base offer, resulting in an oversubscription of P7 billion. Notably, Petron’s interest rates for the bonds were priced at the low end of the marketing range.

“The strong response underscores not only the success of another fundraising initiative but also the confidence investors have in our long-term vision. We are grateful for this trust and remain deeply committed to leading the charge when it comes to ensuring energy security and delivering quality petroleum products across the country,” said Petron President and CEO Ramon S. Ang.

The 5-year bonds maturing in 2030 yield 6.5945% per annum, the 7-year bonds maturing in 2032 carry an interest rate of 6.9761% per annum, and the 10-year bonds maturing in 2035 yield 7.3896% per annum.

Petron remains the oil industry leader in the Philippines, operating the country’s only remaining refinery in Limay, Bataan. Petron also has the widest network of service stations and terminals, ensuring a reliable and continued supply of quality fuels across the nation.

The bonds were offered to the public from June 24 to 30, 2025. The proceeds will be used to redeem the company’s Series D and E bonds, and fund general corporate purposes, among others.

The oil company partnered with PNB Capital and Investment Corporation as Sole Issue Manager, and together with Bank of Commerce, BDO Capital & Investment Corporation, China Bank Capital Corporation, First Metro Investment Corporation, Land Bank of the Philippines, and Philippine Commercial Capital, Inc., as Joint Lead Underwriters and Joint Bookrunners for the Offer. BPI Capital Corporation, Development Bank of the Philippines, RCBC Capital Corporation, and Security Bank Capital Investment Corporation acted as selling agents.