PETROLIAM Nasional Berhad (Petronas) plans to raise up to US$1bil in bonds and loans for two petrochemical units it owns together with US-based Dow Chemical Company, sources close to the deal said yesterday.
The sources said Petronas had decided to cut by half a huge domestic bond issuance planned by its Optimal Olefins and Optimal Glycols units, and would head for the global markets where it hoped to get lower cost funding.
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