Petronas: Bond proceeds for capex, possible M&A

Kuala Lumpur

MALAYSIA'S Petroliam Nasional Bhd (Petronas) plans to use the US$5 billion that it raised in Asia's largest bond offering so far this year for corporate expenses as well as possible acquisitions, the company said.

In a statement, the state-owned energy firm, which posted its first quarterly loss in at least five years in the fourth quarter due to the slump in global oil prices, declined to give any details about its potential merger and acquisition (M&A) plans.