Aboitiz Power plans up to PHP 16.8 billion bonds in 2019

By Marisa Wong

Morgantown, W.Va., Jan. 29 – Philippines’ Aboitiz Power Corp.’s board of directors approved the issuance of up to PHP 16.8 billion of fixed-rate retail bonds, according to a 17-C filing with the Philippines Securities and Exchange Commission.

This will be the third tranche under Aboitiz Power’s previously registered PHP 30 billion fixed-rate retail bond program. The company issued PHP 3 billion of bonds in July 2017 and PHP 10.2 billion of bonds in October 2018.

The company expects to offer the third tranche in the second half of 2019.

Proceeds will be used to finance acquisitions, for future investments or for other corporate requirements.

The power generation company is based in Taguig City, Philippines. It is a subsidiary of Aboitiz Equity Ventures, Inc.

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