Petron seeks consent for loan amendment

By Pan Yue
02 Sep 2020

Philippine oil refining and marketing company Petron is seeking lenders’ consent to make amendments to two of its old borrowings, following an initial warning in July.

The company has sent out a waiver request to remove the debt to Ebitda ratio covenant, which requires Petron to maintain a leverage ratio under 6.5 times, according to three bankers close to the situation.

The official waiver request follows a warning from Petron of a ...

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