Taguig—(PHStocks)—Aboitiz Power Corp. (AboitizPower, PSE: AP) received the Order of Registration and Certificate of Permit to Offer Securities for Sale dated June 19, 2017 from the Securities and Exchange Commission (SEC) in relation to AboitizPower’s application for the issuance of fixed-rate retail bonds in the aggregate amount of up to PhP30 billion.
The first tranche equivalent to PhP2 billion, with an oversubscription of PhP1 billion, will be issued on July 3, 2017, while the remaining balance shall be lodged under the shelf registration program of the SEC to be issued in future tranches.
The public offer for the first tranche will commence on June 20, 2017, and will end on June 23, 2017.
AboitizPower engaged BPI Capital Corp. (BPI Capital) as the issue manager and underwriter for the first tranche, BPI Asset Management and Trust Corp. as the trustee, and the Philippine Depository & Trust Corp. (PDTC) as the registrar of the bonds.
AboitizPower intends to list the bonds with the Philippine Dealing & Exchange Corp. (PDEx).
The bonds earlier received the highest possible rating of “PRS Aaa” from the Philippine Rating Services Corp.