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AboitizPower P100-B bond program gets SEC approval

AboitizPower P100-B bond program gets SEC approval

Provided by Philippine Daily Inquirer.

AboitizPower P100-B bond program gets SEC approval
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MANILA, Philippines — The Securities and Exchange Commission (SEC) has given the green light for the P100-billion bond program of Aboitiz Power Corp.

In a statement on Friday, the corporate watchdog said its commission en banc had approved the registration statement of AboitizPower covering the shelf registration of up to P100 billion in fixed-rate bonds.

Shelf registrations allow companies to register bonds for future sale without having to undergo the registration process for each offering.

READ: AboitizPower’s P30-B bond offering gets top credit rating

In AboitizPower's case, it plans to raise up to P30 billion from the first tranche. The offer period will be from June 23 to 27, with listing on the Philippine Dealing and Exchange Corp. scheduled on July 7.

BDO Capital & Investment Corp., First Metro Investment Corp., Union Bank of the Philippines, China Bank Capital Corp., Land Bank of the Philippines, PNB Capital and Investment Corp., and Security Bank Capital Investment Corp. were named joint issue managers and joint lead underwriters for the offer.

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