Aboitiz Power Corp. has filed the shelf registration with the Securities and Exchange Commission (SEC) of fixed-rate retail bonds worth up to ₱100 billion, a move seen as a significant step in fortifying its capital structure and supporting its aggressive renewable energy expansion plans.
In a disclosure to the Philippine Stock Exchange on Tuesday, the power utility giant said the first tranche under the program amounts up to ₱30 billion, inclusive of oversubscription, and seen issued in the second quarter of 2025, subject to market conditions.
Proceeds from the issuance will be used to refinance existing corporate debts, according to the company. This will potentially improve Aboitiz Power’s financial flexibility and reduce interest expenses, positioning it more competitively as it advances its energy transformation initiatives.
The offering is being jointly managed by BDO Capital & Investment Corp., First Metro Investment Corp. (FMIC)and Union Bank of the Philippines. These institutions, along with China Bank Capital Corp., Land Bank of the Philippines, PNB Capital and Investment Corp., and Security Bank Capital Investment Corp., will also serve as joint lead underwriters and bookrunners. BDO Unibank Inc.-Trust and Investments Group will act as the trustee for the issuance. Aboitiz Power plans to list the bonds on the Philippine Dealing and Exchange Corp. (PDEx) upon issuance.
The bond program is part of Aboitiz Power’s broader strategy to align financial resources with its long-term growth targets. CEO Emmanuel Danel Aboitiz recently reaffirmed the company’s commitment to a ₱78.1 billion capital expenditure for 2025, which includes investments in renewable energy (RE) and battery energy storage systems (BESS).
Aboitiz Power is developing at least 359.5 MW of new RE capacity and 48 MW of BESS, to be completed by 2026. These include the 212 MW Olongapo and 89 MW San Manuel solar projects, 58.5 MW Camarines Sur wind farm, and multiple BESS projects in Bay (20 MW), Magat (8 MW), and Binga (20 MW).
These projects are aligned with the company’s strategy to add 3,600 MW of new RE capacity by 2030, aiming to reach 4,600 MW in total RE and a combined energy portfolio of 9,200 MW, pairing clean energy with thermal sources to meet the country’s evolving energy demands.
The bond issuance underscores Aboitiz Power’s proactive approach in leveraging capital markets to sustain its transformation into a diversified, resilient energy company.
