Aboitiz Power Corp. said it looks to raise P9.55 billion through a bond sale to be sourced from its P30-billion shelf-registered bonds in 2017.
This is the fourth issuance out of the shelf-registered bonds, the first being last July 3, 2017 worth P3 billion.
This was followed by P10.2 billion issued on Oct. 25, 2018, and P7.25 billion on Oct. 14, 2019.
“Subject to market conditions, the fourth tranche bonds is expected to be offered to the general public in the second quarter of 2020 and shall be listed with the Philippine Dealing and Exchange Corp. (PDEx) when issued,” the PSE said.
Aboitiz Power said its board of directors delegated to management the final determination of the issue amount, interest rate, offer price, tenors and other terms and conditions of the bonds “including the parties that will manage or otherwise be involved in the offer.”
“Proceeds of the fourth tranche bonds will be used to finance planned acquisitions, future investments, and/or other corporate requirements,” the PSE said.
