Aboitiz Power Corp. said Monday it filed the registration statement for its proposed P30-billion fixed-rate retail bonds with the Securities and Exchange Commission.
Aboitiz Power said the bonds would be under the shelf-registration program of the SEC.
It said the first tranche of the bonds”•with a base issue size of up to P4 billion and an oversubscription option for another P4 billion”•is expected to be offered to the general public during the first quarter next year.
“Aboitiz Power expects to issue subsequent tranches of the bonds under this shelf registration statement, as the need arises and as market conditions permit,” the company said.
Philippine Ratings Services Corp. assigned an issue credit rating of “PRS Aaa” with stable outlook for the first tranche bonds.
Aboitiz Power intends to use the proceeds from the first tranche bonds for refinancing and/or for other general corporate purposes.