ABOITIZ Power Corp. (AboitizPower) plans to issue up to P30 billion in fixed-rate retail bonds by the second quarter, as part of its P100-billion shelf registration program.
In a stock exchange disclosure on Wednesday, AboitizPower said its board of directors had approved the filing of a registration under the Securities and Exchange Commission’s shelf registration program for peso-denominated fixed-rate retail bonds.
The proposed issuance consists of up to P20 billion worth of retail bonds, with an oversubscription option of up to P10 billion.
“Subject to market conditions, the company intends to offer the first tranche of the retail bonds to the general public during the second quarter of 2025 and to list the first tranche with the Philippine Dealing and Exchange Corporation (PDEx) by the third quarter of 2025,” the company said.
AboitizPower said the proceeds from the first tranche of the retail bonds will be used to refinance corporate debts and/or for other general corporate purposes.
The board delegated to the company’s management the authority to determine the final issue amount, interest rate, offer price, tenors, and other terms and conditions of the retail bonds, including the appointment of parties involved in the offering.
In 2022, the company raised P10 billion in fixed-rate retail bonds, including oversubscription, from the third tranche of its P30-billion debt securities program.
Proceeds from that bond offer were intended for debt refinancing and funding renewable energy projects.
At present, AboitizPower holds a portfolio of 4,482.12 megawatts across 48 power generation facilities nationwide.
At the local bourse on Wednesday, shares in the company declined by 0.12% to close at P40.85 each. — Sheldeen Joy Talavera
