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Philippines' Aboitiz ups offering of five-, seven-year notes to PHP 3.89 billion
By Susanna Moon
Chicago, Dec. 23 - Aboitiz Power Corp. said it upsized its five-year and seven-year peso-denominated corporate fixed-rate note offering to PHP 3.89 billion.
The company signed a notes facility agreement on Dec. 15 for the issuance of PHP 3.56 billion of the notes. The company had the option to upsize the issue depending on market demand.
The notes were to 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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