By Angela McDaniels
Tacoma, Wash., April 15 - Aboitiz Power Corp. said it set the coupons for its domestic offering of up to PHP 1.5 billion fixed-rate retail bonds at 8% for the three-year tranche and 8.7% for the five-year tranche.
The offering period began Wednesday and runs through April 24, according to a company filing with the Philippine Securities and Exchange Commission.
There is a PHP 1.5 billion greenshoe.
The joint lead managers are BDO Capital & Investment Corp., BPI Capital Corp., First Metro Investment Corp. and ING Bank NV, Manila Branch.
In January, the company said the proceeds of the offering will be used to partially finance the 40% down payment for the company's acquisition of the Tiwi-Makban geothermal facilities.
Aboitiz Power is a holding company based in Cebu City, the Philippines, that owns hydroelectric power generation facilities and thermal plants.
Issuer: Aboitiz Power Corp.
| Issue: | Fixed-rate retail bonds
|
| Amount: | PHP 1.5 billion
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| Greenshoe: | PHP 1.5 billion
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| Managers: | BDO Capital & Investment Corp., BPI Capital Corp., First Metro Investment Corp. and ING Bank NV, Manila Branch.
|
| Pricing date: | April 15
|
|
|
| First tranche
|
| Maturity: | Three years
|
| Coupon: | 8%
|
|
|
| Second tranche
|
| Maturity: | Five years
|
| Coupon: | 8.7%
|
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