Petronas bond issue draws $7 bln

Petronas bond issue draws $7 bln

KUALA LUMPUR: Malaysia's state oil firm Petronas said on Thursday its sale of US$2.675 billion of multi-currency bonds, the biggest ever bond issue by an Asian corporate outside of Japan, drew orders of around $7 billion.

Petroliam Nasional (Petronas) said the issue, which went on offer in New York on Monday, was increased to $1.3 billion for the 10-year tranche and 750 million euro for the 7-year tranche.

Its original offer was for $1 billion of 10-year bonds and 500 million euro of 7-year bonds.

A $700-million 20-year tranche was also introduced to help meet the strong demand.

The bonds were priced in Wednesday.

Petronas' $2.7 billion sale of multi-currency bonds, edged out the one by Singapore Telecommunications Ltd issued in November 2001 at $2.3 billion.--Reuters