Petronas’ US$6 billion multi-tranche senior bond offering was oversubscribed by 6.2 times. — AFP pic
The US$6 billion comprised of US$2.25 billion 10-year, US$2.75 billion 30-year and US$1 billion 40-year conventional notes. Petronas noted the issuance represents its return to the international US dollar bond markets since its US$5 billion multi-tranche offerings in March 2015 and is part of the on-going prudent capital management efforts which also effectively extend its debt maturity profile.
Need to see the split between local and global buyers to determine the actual oversubscription
Oversubscribed...well, well, well, It's kinda old trick of the trade eh? Expect the price to soar and soar 📈
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