AboitizPower lists P10.2 bil­lion fixed-rate bonds

Sun.Star Cagayan de Oro - - Business -

ABOITIZ Power Corp. listed P10.2 bil­lion fixed rate bonds Se­ries B Due 2024 and Se­ries C Due 2028 on the Philip­pine Deal­ing and Ex­change Corp. (PDex), the sec­ond tranche of its P30-bil­lion shelf reg­is­tra­tion debt pro­gram.

AboitizPower in July last year is­sued P3 bil­lion 10-year fixed rate bonds to fi­nance the eq­uity in­fu­sion in GNPower Dinginin Ltd. Co. For this re­cent is­suance, the com­pany plans to use the pro­ceeds to fund po­ten­tial ac­qui­si­tions, fu­ture in­vest­ments, and re­fi­nance ex­ist­ing debt.

With these is­sues, the Aboitiz Group’s to­tal out­stand­ing face amount of bonds listed will stand at P58.2 bil­lion, rep­re­sent­ing six per­cent of the to­tal face amount of P966 bil­lion cor­po­rate bonds listed on PDEx, and bring the year-to-date to­tal of new list­ings to P174.3 bil­lion.

PDEx pres­i­dent and chief op­er­at­ing of­fi­cer An­tonino Nakpil com­mended AboitizPower’s lead­er­ship in green bond ini­tia­tives.

“The Aboitiz Group’s ac­tiv­i­ties are cer­tainly a worth­while use of Philip­pine in­vestors’ re­sources. And in­vestors by far have es­tab­lished their seg­ment’s con­stant and sta­ble sec­ondary mar­ket de­mand for fixed in­come in­stru­ments, where the In­ter­dealer ac­tiv­ity has fallen to a mere 37 per­cent of to­tal ac­tiv­ity, and in­vestor re­lated ex­e­cu­tions ac­count for 63 per­cent of the sec­ondary mar­ket,” Nakpil said.

“By rais­ing funds for AboitizPower, we are able to give our in­vestors a chance to be part of a growth story they be­lieve in. The out­come has been re­as­sur­ing. De­spite mar­ket volatil­ity, our base of­fer is fully sub­scribed. This en­ables us to fur­ther our brand prom­ise of ad­vanc­ing busi­ness and com­mu­ni­ties,” said AboitizPower chief fi­nan­cial of­fi­cer Liza Luv T. Mon­telibano.

This 21st list­ing for the year was at­tended by Aboitiz Eq­uity Ven­tures Inc. se­nior vice pres­i­dent and group trea­surer Gabby Mañalac and the is­sue par­tic­i­pants in­clud­ing BDO Cap­i­tal and In­vest­ment Corp. first vice pres­i­dent Jose Ed­uardo Quimpo II, BPI Cap­i­tal Corp. man­ag­ing direc­tor Franz Bonoan, United Co­conut Planters Bank first vice pres­i­dent Ar­turo Li­pio Jr., SB Cap­i­tal In­vest­ment Corp. pres­i­dent Noel Dayrit, First Metro In­vest­ment Corp. vice pres­i­dent Peter Bautista, BDO Trust and In­vest­ments Group vice pres­i­dent Michael Mun­sayac and BDO Uni­bank Inc. ex­ec­u­tive vice pres­i­dent Ce­cil Tan. (PR)

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