MANILA - Aboitiz Power Corp on Tuesday said it was seeking the approval of the Securities and Exchange Commission for the third tranche of its P30 billion fixed-rate retail bonds.
The the third tranche involves the aggregate principal amount of up to P10 billion, including oversubscription, and is expected to be issued in one to two series in the first quarter of 2022, Aboitiz Power told the stock exchnge.
The bond program was registered in March 1, 2021, under the shelf registration program of the SEC, it said.
Aboitiz Power said the proceeds would be used to raise capital for refinancing previously issued bonds, fund construction of future renewable projects and other general purposes.
"AboitizPower intends to list the Bonds with the Philippine Dealing and Exchange Corp," it said.
BDO Capital and Investment Corp, China Bank Capital Corp and First Metro Securities Brokerage Corp are the joint issue managers while BDO Capital, ChinaBank Capital, FMIC and Security Bank Corp are the joint lead underwriters and joint bookrunners, the company said.