Friday, March 27, 2009

Petrochina seeks nod for 100 bln yuan bond

HONG KONG, March 26 (Reuters) - PetroChina Co Ltd <0857.HK> said on Thursday that it would seek shareholders' approval to issue up to 100 billion yuan ($14.6 billion) worth of bonds.

The bonds, with a maturity of not more than 15 years, could be denominated in yuan or other foreign currency, the company said in a statement to the Hong Kong stock exchange.

The proceeds from the issue would be used to fund operational needs, increase the company's liquidity, or finance capital spending, it said. (Reporting by Jun Ebias, editing by Will Waterman) ($1=6.832 Yuan)

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