Aboitiz Power Corp. has secured from the Securities and Exchange Commission a permit to offer securities for sale for the issuance of the third tranche of its P30-billion denominated fixed-rate retail bonds.
The company said the third tranche bonds, with a principal amount of P7 billion and an oversubscription option of up to P5 billion, will be issued on Oct. 14, 2019 as the offer period will end on Oct. 4, 2019.
For the issuance, BDO Capital & Investment Corp. and First Metro Investment Corp. are the joint issue managers; BDO Capital & Investment Corp., First Metro Investment Corp., China Bank Capital Corp., SB Capital & Investment Corp. and PNB Capital & Investment Corp. are the joint bookrunners and joint lead underwriters.
The issuance of bonds was part of the steps being undertaken by AboitizPower to achieve its goal of providing the country at least 4,000 megawatts (MW) of installed capacity by 2020 which the Aboitiz Group has so far hit.
The Group and its partners produce 4,471 MW of total net sellable capacity of electricity from both thermal and renewable power sources.