In a regulatory filing, Petron announced that it intends to buy part of its $500-million outstanding US dollar-denominated debt issued on Jan. 19, 2018. It said the decision is still subject to some conditions, which it did not specify.
Petron set a timeline of two weeks from the start of the offer period until the payment date. It set the start date on Jan. 4, with the expiration deadline on Jan. 12, unless extended or terminated by the company. The payment date is scheduled on Jan. 18. In a media release on Wednesday, the listed conglomerate said the initiative is in partnership with Rural Rising Ph , a social enterprise that fosters rural prosperity through agri-entrepreneurship.
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