In its prospectus filed with securities regulators, Petron said proceeds from the issue would be used to pay down debt and for general corporate purposes.
The notes will carry an annual coupon of 5.95 percent per annum, payable semi-annually on April 19 and October 19.
HSBC is the sole global coordinator and joint bookrunner alongside DBS Bank Ltd., MUFG, SMBC Nikko, Standard Chartered Bank and UBS.
BDO Capital & Investment Corp., China Bank Capital Corp. and PNB Capital and Investment Corp. are the domestic lead managers for the offering.
Through its network of 2,435 retail service stations in the Philippines as of December 31,2020, Petron sells gasoline, diesel, and kerosene to motorists and to the public transport sector. The company had an overall market share of 24% of the local oil market in the first half of last year in terms of sales volume.
In Malaysia, the company owns and operates the Port Dickson Refinery located in the state of NegeriSembilan, which has a crude oil distillation capacity of 88,000 bpd, and produces a range of petroleum products, including LPG, naphtha, gasoline, jet fuel, diesel and low-sulfur waxy residue.