AboitizPower issuing Php12B in bonds in 4Q

Aboitiz Power Corporation will be issuing Php12 billion in fixed-retail bonds to fund its renewable energy (RE) projects and for refinancing purposes, among others.

In a disclosure to the Philippine Stock Exchange on Monday, AboitizPower said that the new issuance would serve as the second tranche of the Php30 billion registered bonds under the shelf registration program of the Securities and Exchange Commission.

The Second Tranche Bonds would be offered to the public in the fourth quarter and will be listed with the Philippine Dealing and Exchange Corporation, subject to prevailing market conditions.

The company’s board has left it to managment to determine the bonds’ issue amount, interest rate, offer price, tenors, and other terms.

Prior to this, AboitizPower — the country’s largest power generator — issued Php8 billion in bonds in March.

Last month, the firm announced its plans to invest around Php190 billion on RE technologies to raise its renewable assets to half of its power portfolio by 2030.