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PetroChina grosses 20.00 billion yuan from debt offering

PetroChina Co. Ltd. raised gross proceeds of 20.00 billion yuan from an offering of 3.85% unsecured notes due Oct. 12, 2020.

The company plans to use the proceeds for redemption or repayment of debt securities.

Agricultural Bank of China Ltd. and China Construction Bank Corp. were the lead underwriters.

As of Oct. 9, US$1 was equivalent to 6.35 yuan.