Caltex Australia Limited (ASX:CTX) says it will raise $300 million through an ASX listed notes issue.
The subordinated notes offer will be used for general corporate purposes and for the refinancing of existing debt.
Caltex says the offer will be open to retail and institutional investors.
The announcement follows the news of the closure of its Kurnell refinery in Sydney which will occur in the second half of 2014 and will see hundreds of jobs lost over the next two years.
The facilities at Kurnell will be converted to a transport fuel import facility.
In the 2011 financial year Caltex reported a net loss of $713 million.