AboitizPower seeks regulatory approval for fixed rate bonds


ABOITIZ Power Corp. said Thursday it has asked the Securities and Exchange Commission (SEC) to approve the publicly traded energy company’s issuance of up to 12 billion pesos of fixed-rate bonds.

The issue is the second tranche of its P30 billion securities as part of its registration pending program.

In its disclosure, AboitizPower said the second tranche is expected to be issued in the fourth quarter in one or two series, and is intended to be listed on the local debt market.

“The proceeds from the bonds will be used to refinance the Series E 2020 bonds maturing in 2022, partially fund equity contributions for the construction of the 74 MW (megawatt) solar power plant in Pangasinan province, at general corporate purposes and other future purposes. renewable projects, ”the company said.

She appointed BDO Capital & Investment Corp., China Bank Capital Corp., First Metro Investment Corp. and Security Bank Capital Investment Corp. It has also appointed BDO Unibank, Inc. – Trust and Investments Group as trustee.

Last week, the company’s board of directors gave the green light to issue the second tranche of its 30 billion peso bond issue.

AboitizPower hopes to increase its renewable energy portfolio as it plans to spend 190 billion pesos to develop 3,700 megawatts of new renewable energy projects by 2030. The investment will increase the company’s “Cleanergy” portfolio which he hopes will include a larger 50% share. of its electricity production mix over the next decade.

Cleanergy is AboitizPower’s brand of clean and renewable energy.

The company is the listed holding company of the Aboitiz group’s investments in power generation and distribution, retail power and other related services.

Shares of AboitizPower on the local exchange improved 4.03% or P1.20 to end at P31 each on Thursday. – Angelique Y. Yang

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