Aboitiz Power to offer P10B retail bonds
Aboitiz Power Corp. is set to tap the debt market anew with the fresh offering of P10 billion worth of fixed-retail bonds.
It will use proceeds to fund planned acquisitions, future investments and other corporate requirements.
In a regulatory filing, AboitizPower said it appointed BDO Capital & Investment Corp. and First Metro Investment Corp. as joint issue managers, bookrunners and lead underwriters.
The bonds, which will be listed on the Philippine Dealing and Exchange Corp., form part of the company’s P30 billion fixed-rate retail bonds registered in 2017 under the shelf registration program of the Securities Exchange Commission.
AboitizPower issued the first tranche on July 3, 2017 in the amount of P3 billion. This was followed by P10.2 billion on Oct. 25, 2018.
The company’s management has yet to set the interest rate, offer price, tenors, and other terms of the offering.