Philippine Dealing and Exchange Corp. (PDEx) approved Tuesday the listing of Aboitiz Power Corp.’s (Aboitiz Power) Series “A” Bonds equivalent to P8 billion, including oversubscription.
Aboitiz Power disclosed to the Philippine Stock Exchange the PDEx approval paves the way for the secondary market trading of the Series “A” Bonds, with a fixed interest rate of 3.8224 percent per annum and a maturity date of 2026.
The Securities and Exchange Commission on March 1 approved the public offer of Aboitiz Power’s fixed rate retail bonds in the aggregate principal amount of up to P30 billion to be issued in tranches.
“The remaining balance of the P30 billion bonds was lodged under the shelf registration program of SEC and may be raised in future tranches,” the company said.
Aboitiz Power may issue the debt securities in one or more series within three years. Aboitiz Power will use proceeds from the first tranche bonds for the redemption of bonds maturing 2021 and the early redemption of bonds maturing in 2026. Alena Mae S. Flores