Philippines' Energy Development to issue PHP 5 billion bonds via BDO

By Susanna Moon

Chicago, March 6 - Energy Development Corp. said it plans to issue PHP 5 billion of bonds in two tranches via BDO Capital & Investment Corp. as issue manager and bookrunner. The deal was announced on March 5.

The company plans to issue a seven-year tranche and a 10-year tranche.

Proceeds will be used to support the company's business expansion plans, finance capital expenditures and fund general corporate purposes.

As noted before, the issue also has an oversubscription option for up to PHP 2 billion.

Philippine Rating Services Corp. has assigned a rating of PRS Aaa to the planned offering.

Pasig City, Philippines-based Energy Development specializes in geothermal energy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.