The Securities and Exchange Commission granted Aboitiz Power Corp. a certificate of permit to issue the second tranche of its P30-billion debt securities program.
Aboitiz Power said in a disclosure to the stock exchangeThursday the second tranche bonds, equivalent to P10 billion and with an oversubscription option of up to P5 billion, would be issued on Oct. 25, 2018.
The public offer will commence on Oct. 12 and would end on Oct. 18, 2018. The company intends to use proceeds from the issuance to refinance debt.
Aboitiz Power tapped BDO Capital Corp. as the issue manager, BDO Capital Corp., BPI Capital Corp. and United Coconut Planters Bank as joint lead underwriters, and BDO Unibank Inc. Trust & Investments Group as the trustee. Philippine Depository & Trust Corp. is the registrar of the bonds.
AboitizPower said it would list the bonds with the Philippine Dealing & Exchange Corp.
Aboitiz Power filed its application with the SEC in late August.
The second tranche bonds received an issue credit rating of “PRS Aaa”, with a stable outlook from the Philippine Ratings Services Corp.
