AboitizPower redeems Php3.4B bonds ahead of maturity

AboitizPower IPO

Aboitiz Power Corporation said that it has fully paid its 12-year 2014 Series ‘B’ Bonds worth Php3.4 billion ahead of its supposed maturity in 2026.

In a disclosure to the Philippine Stock Exchange on Tuesday, AboitizPower said the payment was made through the Philippine Depository & Trust Corporation last September 10.

“The Bonds will cease to be listed with the Philippine Dealing and Exchange Corporation following the early redemption,” the disclosure read.

No reason was given for the bonds’ early redemption.

Back in March, AboitizPower sold Php7.9 billion in Series “A” Bonds, the first tranche of its Php30 billion bond program.

In August, the company said it would be investing Php190 billion to increase its renewable energy (RE) portfolio in a bid to reach a 50:50 balance between its RE and thermal capacities.