Finance / China
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PetroChina Plans Record Bond Issue
June 2008 | Corporate Financing News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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PetroChina, Asia's top oil and gas producer, is planning to issue up to CNY60bn (US$8.7bn) in corporate bonds in a potentially record breaking corporate bond issue, as high global oil prices continue to pile pressure on its finances. PetroChina, a publically listed company which is highly subsidised by the Chinese government, has seen its share price decrease as its profits diminish. The issue will be the largest by a domestic listed company to date. Bonds will be sold in either one or several tranches, with maturities of 15 years.