Phoenix Petroleum raises P7 B from CP issuance 0 SHARES Share it! The company, in a statement to the media, has emphasized that such was the initial tranche of its planned P10-billion commercial papers issuance. The sole issue manager for the commercial papers program had been PNB Capital and Investment Corp. Phoenix Petroleum indicated that Series A-1 has fixed discount rate of 7.0937-percent and a tenor of 180 days; while Series A-2 has a fixed discount rate of 7.4717 percent and a tenor of 360 days. Phoenix Petroleum is targeting to raise P10 billion worth of commercial papers over a three-year period, based on the approval it obtained from the regulators.

Source: Manila Bulletin December 30, 2018 13:52 UTC