Aboitiz Power Corp. looks to raise P12 billion through a bond sale.
The bonds will be sourced from its shelf-registered bond approved by the Securities and Exchange Commission (SEC) in March this year.
“The second tranche bonds, with an aggregate principal amount of up to P12 billion, including oversubscription, is expected to be issued in the fourth quarter of 2021, in one or two series,” the company said.
AboitizPower said it will use the proceeds of the bond sale to “refinance the 2020 Series E Bonds maturing in 2022, partially fund the equity contributions for the construction of the 74-MW solar power plant in Pangasinan province, general corporate purposes, and other future renewable projects.”
AboitizPower tapped 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.
AboitizPower said the bonds will be listed in the Philippine Dealing and Exchange Corp.
