KUALA LUMPUR (April 30): Petroliam Nasional Bhd (Petronas), which has applied for the listing of Petronas Capital Ltd’s US$3 billion (about RM12.32 billion) bonds on The Stock Exchange of Hong Kong Ltd, said the listing of and permission to deal in the notes were expected to have become effective yesterday.

In filings with the Hong Kong bourse on Wednesday and yesterday, Petronas said its wholly-owned subsidiary Petronas Capital is issuing US$1.25 billion and US$1.75 billion guaranteed notes due on 2032 and 2061 respectively.

Petronas said the US$1.25 billion and US$1.75 billion notes, which pay annual interest rates of 2.48% and 3.404% respectively, are issued under Petronas Capital and Petronas Energy Canada Ltd’s US$15 billion global medium term note programme.

Petronas said the company is the guarantor of the US$15 billion bond scheme, while Petronas Energy Canada is a also wholly-owned subsidiary of Petronas.

Petronas said in the filing on Wednesday: "An application has been made by Petronas Capital and Petronas with The Stock Exchange of Hong Kong Ltd for the listing of and permission to deal in the [US$1.25 billion and US$1.75 billion] notes by way of debt issues to professional investors (as defined in Chapter 37 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Ltd) only as described in the offering circular dated Feb 26, 2021  and the pricing supplements dated April 22, 2021. 

"The listing of and permission to deal in the notes are expected to become effective on or about April 29, 2021,” Petronas said.

Petronas yesterday filed the US$1.25 billion and US$1.75 billion notes’ offering circular and pricing supplements with the Hong Kong bourse.

In the offering circular and pricing supplements, Petronas said an application had been made for the listing of the programme for 12 months after the date of the offering circular for debt issues to professional investors only on the Stock Exchange of Hong Kong.

Petronas, however, did not specify the identities of the professional investors.

"Notes may be listed or admitted to trading, as the case may be, on other or further stock exchanges or markets agreed among the issuer, the guarantor and the relevants dealer(s) in relation to the series of notes. 

"Notes which are neither listed nor admitted to trading on any market may also be issued. The applicable pricing supplement will state whether or not the relevant notes are to be listed and/or admitted to trading and, if so, on which stock exchanges and/or markets,” Petronas said.

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