PDEX approves listing of Php12B in AboitizPower bonds

AboitizPower IPO

The Philippine Dealing and Exchange Corporation (PDEX) has approved the listing Aboitiz Power Corporation’s fixed-rate retail bonds worth Php12 billion, including oversubscription.

In a disclosure to the Philippine Stock Exchange on Thursday, AboitizPower said the approval paves the way for the secondary market trading of the Series ‘B’ bonds, with a fixed interest rate of 3.9992% per annum maturing in 2025, and the Series ‘C’ bonds with a fixed interest rate of 5.0283 percent per annum maturing in 2028.

AboitizPower received the Securities and Exchanges Commission’s (SEC) certificate of permit to offer securities for sale last November 15.

The recently-approved bonds is the second tranche of its Php30-billion debt securities program registered and approved by the SEC earlier this year.

AboitizPower is the country’s largest power generator.