Malaysian state-owned oil company Petroliam Nasional Bhd. is considering divesting global bonds, almost five years after it last sold $5 billion of bonds in the global market, Bloomberg News reported Jan. 3, citing sources familiar with the matter.
The company, also known as Petronas, is anticipated to select advisers anytime and asked banks in December 2019 to submit pitches for the bonds, according to the report. Bloomberg's sources said there is no final decision yet on the amount and schedule of the planned bond sale, which could either commence at any time or fall through.
Petronas has outstanding dollar bonds amounting to $6.5 billion, $1.25 billion of which are scheduled to mature March 18, Bloomberg said.
The company has not responded to comment requests, according to Bloomberg.