Aboitiz Power Corp. has received the greenlight from the Securities and Exchange Commission to issue fixed-rate retail bonds amounting to as much as P12 billion.

The bonds represent the second tranche of a P30 billion fixed-rate bonds program registered with the SEC, consisting of a principal amount of P6 billion and an oversubscription option of up to P6 billion.

Proceeds from the issuance will be used to refinance the 2020 Series E Bonds maturing in 2022, partially fund the construction of the 74-MW solar power plant in Pangasinan province, for general corporate purposes and other future renewable projects.

The offer period will close on November 19 while the notes will be issued on December 2.

AboitizPower has engaged BDO Capital & Investment Corp., China Bank Capital Corp., First Metro Investment Corp. and Security Bank Capital Investment Corp. as joint issue managers, joint lead underwriters, and joint bookrunners.

The post Aboitiz family set to raise P12B from AboitizPower’s bond offer first appeared on Bilyonaryo Business News.



Aboitiz family set to raise P12B from AboitizPower’s bond offer
Source: Filipino Daily Inquirer