The Philippine Dealing and Exchange Corp. has approved the listing of the first part of Aboitiz Power Corp.’s fixed-retail bonds, totaling up to P30 billion, from its shelf registration with the Securities and Exchange Commission (SEC) in the aggregate amount of up to P100 billion.
The first part consists of Series A bonds with a fixed interest rate of 5.8846 percent per annum due in 2027, Series B bonds with a fixed interest rate of 6.2934 percent per annum due in 2030, and Series C bonds with a fixed interest rate of 6.8572 percent per annum due in 2035, equivalent to up to P20 billion with an oversubscription of up to P10 billion.
“The PDEx approval paves the way for the secondary market trading of the first tranche bonds,” AboitizPower said in a disclosure on Monday.
On June 25, 2025, the SEC approved AboitizPower’s public offer of the first tranche bonds from its shelf registration totaling P100 billion.
AboitizPower earlier said it will issue subsequent tranches of the bonds as needed.
The proceeds of the bonds will be used to refinance corporate debts, it said.
The company earlier appointed BDO Capital & Investment Corp. (BDO Capital), First Metro Investment Corp. (FMIC), and Union Bank of the Philippines (Unionbank) as joint issue managers; BDO Capital, FMIC, Unionbank, China Bank Capital Corp., Landbank of the Philippines, PNB Capital and Investment Corp., Security Bank Capital Investment Corp. as joint lead underwriters and joint bookrunners; and BDO Unibank, Inc. – Trust and Investments Group as the trustee for the proposed first tranche.
The company, together with its partners, has set the capital expenditures budget at P78.1 billion this year.
The company reported a 2 percent increase in 2024 net income to P33.9 billion from P33.1 billion in 2023 despite the recognition of depreciation and interest for GNPower Dinginin Ltd. Co.’s (GNPD) Units 1 and 2.
AboitizPower’s core net income in 2024 grew 5 percent to P33.7 billion from P32 billion in 2023.
