PHOENIX Petroleum Philippines, Inc. has tapped foreign financial institutions to arrange a series of fixed income investor meetings in Manila, Hong Kong and Singapore, possibly resulting in the issuance of dollar-denominated debt instruments.
“An offering of US$-denominated Regulation S only Senior Perpetual Capital Securities may follow, subject to market conditions. The Securities, if issued, are expected to be unrated,” it told the stock exchange on Thursday.
The meetings will start on Friday (March 1). The company mandated Australia and New Zealand Banking Group Ltd. (ANZ) as sole global coordinator. ING and UBS AG Singapore are the joint lead managers and bookrunners to arrange the series of investor meetings.
Separately, Phoenix Petroleum disclosed the opening of its first Autoworx Plus shop that aims to serve motorists as a one-stop automotive facility equipped to handle a whole range of car care needs. The branch is along West Service Road in Muntinlupa City.
“With dedicated service technicians trained and educated in reputable technical schools, Autoworx Plus offers light to medium car repairs and maintenance, such as oil change, engine tune-up, brake servicing, clutch and transmission servicing, under-chassis repair, suspension repair, wheel alignment, wheel balancing, tire rotation, bulb and light check-up, electrical servicing, vulcanizing, air-condition repair, auto detailing, car body wash, and under-chassis wash,” the company said.
Autoworx Plus also offers automotive products, and is equipped with a FamilyMart outlet. Clients can also pay their bills, load, or credit card through the Posible digital payment device available at the convenience store’s counter.
The company said Autoworx Plus was established in partnership with Michelin Tires, Denso, Motolite Battery, Bendix, Tire Asia, and Alabang Parts Center. Service technician training is provided by Don Bosco Technical Institute in Makati and Canlubang. Phoenix Petroleum’s lubricants are also sold at the shop.
On Thursday, shares in Phoenix Petroleum slipped 0.67% to close at P11.80 each. — Victor V. Saulon
