Aboitiz Power Corp. filed an application with the Securities and Exchange Commission on Wednesday to issue P10 billion worth of bonds, representing the second tranche of its P30-billion debt securities program.
Aboitiz Power said in a disclosure to the stock exchange the second tranche of bonds were registered with the SEC under its shelf registration program on June 19, 2017.
“The second tranche bonds, equivalent to P10 billion and with an oversubscription option of up to P5 billion, are expected to be offered to the general public during the fourth quarter of 2018,” it said.
Aboitiz Power said it would use the proceeds of the second tranche bonds to refinance the medium-term loan of wholly-owned subsidiary Therma Power Inc. to repay its short-term loan obligations and for general corporate purposes.
Aboitiz Power appointed BDO Capital Corp. as issue manager for the proposed offering; BDO Capital Corp., BPI Capital Corp. and United Coconut Planters Bank as joint lead underwriters; and BDO Unibank Inc.’s trust and investments group as trustee.