AboitizPower seeks P100-B bond plan
Proceeds will be used for debt refinancing and general corporate purposes
Proceeds will be used for debt refinancing and general corporate purposes
Aboitiz Power Corp. has filed a registration statement with the Securities and Exchange Commission (SEC) for a P100-billion fixed-rate retail bond program.
The company told the stock exchange on Wednesday that the bonds will be issued in tranches based on market conditions.
Its board has approved an initial tranche of up to P20 billion, with an option to raise an additional P10 billion through oversubscription. Proceeds will be used for debt refinancing and general corporate purposes.
AboitizPower plans to offer the first tranche in the second quarter of 2025 and list it on the Philippine Dealing & Exchange Corp. (PDEx) by the third quarter.
Additionally, the company said the management has been authorized to determine the final terms, including the issue amount, interest rate, offer price, and tenor, and to appoint transaction managers.
AboitizPower has over 1,000 MW of disclosed renewable energy projects in its pipeline, spanning solar, hydro, geothermal, wind, and energy storage. It aims to add 3,600 MW of new renewable capacity and achieve a balanced 9,200-MW portfolio by 2030, with at least 50 percent from clean energy sources.
