Aboitiz Power Corp. said it has secured approval from the Philippine Dealing and Exchange Corp. (PDEx) to list the first tranche of its retail bond issuance.
The listed energy firm, part of the Aboitiz Group, offered up to P20 billion in three-series fixed-rate bonds, with an oversubscription option of up to P10 billion. The bonds form part of AboitizPower’s P100-billion shelf registration program previously approved by the Securities and Exchange Commission.
The interest rates have been set at 5.8846 percent for Series A bonds maturing in 2027, 6.2934 percent for Series B due 2030, and 6.8572 percent for Series C maturing in 2035.
Proceeds from the offering are expected to support the company’s capital expenditures, including renewable energy expansion projects, and to refinance existing obligations.
BDO Capital & Investment Corp., First Metro Investment Corp., and Union Bank of the Philippines have been appointed as joint issue managers, bookrunners, and joint lead underwriters for the offering.
AboitizPower aims to diversify its power generation portfolio, which includes a growing pipeline of renewable energy projects in line with its goal to achieve a 50:50 clean energy mix by 2030.
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