AboitizPower eyes SEC nod for fixed-rate bond issuance – The Manila Times

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Listed Aboitiz Power Corp. (AboitizPower) is looking to secure the approval of the Securities and Exchange Commission (SEC) to issue up to P9.55 billion in fixed-rate retail bonds. In a disclosure, the power subsidiary of Aboitiz Equity Ventures Inc. ...

In a disclosure, the power subsidiary of Aboitiz Equity Ventures Inc. said it filed with the SEC on Tuesday its application to issue these bonds, which it expected to happen “in the second or third quarter of 2020, in one or two series.

” The bonds — the fourth tranche from the P30 billion debt securities program approved by the SEC in 2017 — will be listed on the Philippine Dealing and Exchange Corp. Proceeds from the planned issuance would go to the reimbursement of the equity infusions into AA Thermal Inc., and fund succeeding infusions into AboitizPower’s subsidiary and into Therma Power Inc. for the construction of GNPower Dinginin Ltd. Co.’s 2×668-megawatt super critical coal-fired power plant.

 

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