AboitizPower raises P7.25 billion from bonds
MANILA, Philippines — Aboitiz Power Corp. has raised P7.25 billion from a seven-year bond issuance.
The bonds, representing the third tranche of AboitizPower’s debt securities program, were listed on the Philippine Dealing and Exchange Corp.
The PDEx approval paves the way for the secondary market trading of the Series “D” fixed rate bonds, with a fixed interest rate of 5.2757 percent per annum maturing in 2026.
During the listing ceremony, AboitizPower chief financial officer Liza Luv Montelibano said the demand for the company’s offering is a show of support in the firm and the country’s growth story.
“This endeavor gives us the opportunity to further our brand promise of advancing business and communities. AboitizPower is here to provide our country with reliable power, at reasonable cost, and in a responsible manner in support of the country’s growing energy needs,” she said.
The proceeds from the bond offering will be used to refinance some existing loans, Montelibano said.
“While the purpose of this third offering is to refinance and repay some of our existing loan obligations, it is part of a larger goal of generating 33 terrawatt-hours of energy by 2025,” she added.
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