[ET Net News Agency, 21 November 2017] PetroChina (00857) said the proposed
exchangeable corporate bonds issuance by its controlling shareholder China National
Petroleum Corporation (CNPC) has been approved by the State-owned Assets Supervision and
Administration Commission of the State Council and the China Securities Regulatory
Commission respectively.
The proposed term the exchangeable corporate bonds will not exceed five years, and the
proposed proceeds will not exceed Rmb20 billion.
CNPC and CSC Financial Co., Ltd., trustee of the proposed exchangeable corporate bonds
issuance, are going to apply for registration of the share pledge and trust before the
proposed exchangeable corporate bonds issuance at Shanghai Branch of China Securities
Depository and Clearing Corporation Limited. 3,820 million A shares of PetroChina held by
CNPC, which account for 2.09% of the total issued share capital of PetroChina, will be
transferred into the pledge and trust accout. Upon completion, CNPC will directly hold
about 151,089 million A shares of PetroChina, representing 82.55% of the total issued
share capital. (HL)