The Securities and Exchange Commission (SEC) has approved Aboitiz Power Corp.’s shelf registration for up to P100 billion in fixed-rate bonds over three years, the company said following the SEC’s en banc approval.
For the first tranche, Aboitiz Power will issue up to P20 billion, with an oversubscription option of P10 billion. Should the offer be fully subscribed, the company is expected to raise up to P29.64 billion, which will be allocated primarily for refinancing and early redemption of existing debt.
The public offering is scheduled to run from 23 to 27 June, with the bonds listed on the Philippine Dealing and Exchange Corp. by 7 July.
The issuance forms part of Aboitiz Power’s strategic capital markets program, aimed at enhancing financial flexibility and optimizing its capital structure. The company has appointed BDO Capital, First Metro, UnionBank, China Bank Capital, Landbank, PNB Capital, and Security Bank Capital as joint issue managers and lead underwriters.
