Aboitiz Power Corporation (AboitizPower) announced that the Securities and Exchange Commission (SEC) has favorably considered its debt securities program, which aims to raise up to P30 billion for its initial offering.
In its meeting on June 10, the SEC En Banc resolved to render effective the registration statement of AboitizPower, covering the shelf registration of up to P100 billion in fixed-rate bonds. This approval is subject to the company’s compliance with certain remaining requirements.
For the first tranche of the program, AboitizPower plans to offer up to P20 billion in fixed-rate bonds, with an oversubscription option of up to P10 billion. Should the oversubscription option be fully exercised, the company anticipates netting up to P29.64 billion from this initial offer. The proceeds from the offering are earmarked for the refinancing and early redemption of the company’s existing debt.
The offer period for the bonds is scheduled to run from June 23 to June 27, 2025. The bonds are slated for listing on the Philippine Dealing and Exchange Corp. (PDEx) on July 7, 2025, according to the latest timeline submitted by AboitizPower.
To facilitate this offering, AboitizPower has engaged a consortium of leading financial institutions as joint issue managers and joint lead underwriters. These include 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.
