Philippines' Aboitiz Power to sell PHP 3.56 billion notes

By Susanna Moon

Chicago, Dec. 16 - Aboitiz Power Corp. said it signed a notes facility agreement for the issuance of PHP 3.56 billion of five-year and seven-year peso-denominated corporate fixed-rate notes.

The company has the option to upsize the issue depending on market demand.

The notes will be issued in a private placement to a maximum of 19 institutional investors.

Proceeds will be used to finance planned acquisitions as well as for other general corporate purposes.

BDO Capital & Investment Corp., BPI Capital Corp., First Metro Investment Corp., ING Bank NV and Manila Branch are joint lead managers.

Aboitiz Power is a holding company based in Cebu City, the Philippines, that owns hydroelectric power generation facilities and thermal plants.

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