Aboitiz Power Corp. has filed to the Securities and Exchange Commission for the shelf registration program of peso-denominated fixed-rate retail bonds with an aggregate principal amount of P100 billion.
The company said in a statement on Wednesday, the retail bonds will be issued in tranches “subject to market conditions.”
Aboitiz Power added its board of directors also approved the issuance of the first tranche consisting of up to P20 billion with an oversubscription option of up to P10 billion which “will be used for refinancing of corporate debts and for other general corporate purposes.”
“Subject to market conditions, the company intends to offer the first tranche of the retail bonds to the general public during the second quarter of 2025 and to list the first tranche with the Philippine Dealing and Exchange Corp. by the third quarter of 2025,” the company further said.
Aboitiz Power said it is also now in the process of determining the final issue amount, interest rate, offer price, tenors and other terms and conditions of the retail bonds, including the appointment of parties that will manage or be involved in the offering.
Last week, Aboitiz Power through its subsidiary, SN Aboitiz Power Group (SNAP) also secured financing for the expansion of its battery energy storage system (BESS) facilities from the Bank of the Philippine Islands (BPI), China Banking Corp. and Banco de Oro Unibank Inc. (BDO).
