Aboitiz Power Corp. on Friday filed an application with the Securities and Exchange Commission to issue the third tranche of its P30-billion debt securities program amounting to P10 billion.
The third tranche bonds will consist of the primary offer of an aggregate principal amount of up to P10 billion with an oversubscription option of up to P2 billion. The company plans to offer the bonds to the general public in the fourth quarter.
Aboitiz Power plans to use the proceeds of the third tranche bonds to repay short-term loan obligations and fund general corporate activities.
It appointed BDO Capital & Investment Corp. and First Metro Investments Corp. as joint issue managers of the offering, BDO Capital & Investment Corp., First Metro Investment Corp., China Bank Capital Corp., SB Capital Investment Corp. and PNB Capital & Investment Corporation as joint lead underwriters, and BDO Unibank Inc. -Trust and Investments Group as the trustee.