Aboitiz Power Corp. said Tuesday it will exercise its right to redeem its outstanding 5.25-year fixed-rate retail bonds totaling P7.7 billion issued on Oct. 25, 2018 ahead of the January 2024 maturity.
Aboitiz Power said in a disclosure to the stock exchange it would prepay the 2018 Series B bonds at an optional redemption price of 100.25 percent of their face value on Oct. 25, 2022.
The company said it was coordinating with BDO Unibank Inc. Trust and Investment Group and Philippine Depository and Trust Corp., the trustee, registrar and paying Agent, respectively for the corresponding notices and computation of the amounts due to the bondholders of the 2018 Series B bonds.
Aboitiz Power posted a net income of P10 billion in the first half, a slight decline from the P10.1 billion recorded in the same period of 2021. Core net income in the first half reached P9.2 billion, or nine percent lower than P10.1 billion it booked in 2021.