Philippine Securities and Exchange Commission renders effective Aboitiz Power shelf registration for up to PHP100 billion fixed-rate bonds

The Philippine Securities and Exchange Commission has rendered effective Aboitiz Power Corporation’s registration statement for the shelf registration of up to PHP100 billion in fixed-rate bonds, subject to compliance with remaining requirements, enabling an initial offering of up to PHP30 billion under the company’s debt securities program. The first tranche comprises up to PHP20 billion of fixed-rate bonds with an oversubscription option of up to PHP10 billion, which would result in expected net proceeds of up to PHP29.64 billion if fully exercised. Proceeds are earmarked for refinancing and early redemption of existing debt, with the offer scheduled for 23–27 June and listing on the Philippine Dealing and Exchange Corp. targeted for 7 July; the company appointed BDO Capital & Investment Corporation, First Metro Investment Corporation, Union Bank of the Philippines, China Bank Capital Corporation, Land Bank of the Philippines, PNB Capital and Investment Corporation, and Security Bank Capital Investment Corporation as joint issue managers and joint lead underwriters.