Petronas raises US$3b from bond offering

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Petronas said today it had raised US$3 billion from a bond offering to refinance debt and for other corporate purposes.The issuance was 2.46 times the initial offer size, and a 40-year bond tranche was the largest ever by a Southeast Asian issuer, the company said in a statement.“Supported by strong investor demand, Petronas was able to upsize the transaction size to US$3 billion based on total demand of US$7.4 billion,” it said.The offering included US$1.25 billion of 10.75-year and US$1.75 billion of 40-year conventional notes.The 10.75-year senior notes were priced at 92.5 basis points (bps) over the 10-year US Treasury yield for a coupon of 2.48 percent, and the 40-year senior notes were priced 115 bps over the 30-year US Treasury for a coupon of 3.404 percent.Last month, Petronas’ subsidiary Petronas Energy Canada Ltd raised US$600 million from another bond offering to fu…