Aboitiz Power bags listing approval for first tranche of $1.76b bond offer

The public offer was approved last month.

Authorities have given their go signal for the listing of the first tranche of Aboitiz Power Corporation’s $1.76b (PHP 100b) fixed-retail bonds.

In a bourse filing, the company said the approval was given by the Philippine Dealing and Exchange Corporation.

The first tranche consists of series “A” bonds with a fixed interest rate of 5.8846% per annum due in 2027, series “B” bonds with a fixed interest rate of 6.2934% per annum due in 2030, and series “C” bonds with a fixed interest rate of 6.8572% per annum due in 2035, equivalent to up to $352.24m (PHP 20b) with an oversubscription of up to $176.12m (PHP 10b).

The Securities and Exchange Commission on 25 June approved the public offer of the First Tranche Bonds from its Shelf Registration.

The balance of the principal amount shall be lodged under the Shelf Registration and may be raised in future tranches.

$1 = PHP56.78