Philippines' Aboitiz Power to place PHP 5 billion of fixed-rate notes

By Marisa Wong

Madison, Wis., April 12 - Aboitiz Power Co. signed a notes facility agreement on Tuesday to issue PHP 5 billion of corporate fixed-rate notes, according to a 17-C filing with the Philippines Securities and Exchange Commission.

The notes will be issued through a private placement to up to 19 institutional investors.

Metropolitan Bank and Trust Co. - Trust Banking Group is the notes facility agent, and First Metro Investment Corp. is the manager.

Proceeds will be used to refinance the company's 2008 notes issuance and for general corporate purposes.

The Cebu City, Philippines-based holding company owns hydroelectric power generation facilities and thermal plants.

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