Aboitiz Power Corporation Lists PHP 10 Billion Series D and E Bonds on PDExPosted on: March 22, 2022
22 March 2022, Makati, Philippines — Aboitiz Power Corporation (AP) returned to the Philippine Dealing & Exchange Corp. for their first issuance for the year, the 3rd and final tranche of their PHP 30 Billion SEC shelf registration. AP’s PHP 10 Billion Series D and E bonds were pegged at 5.3066% and 5.7388%, per annum, respectively, to be paid quarterly.
PDEx President and CEO Antonino A. Nakpil took a little trip down memory lane in his welcome remarks during the listing ceremony on March 17, 2022 as he recalled the beginning of the government-mandated community quarantine. He said: “Today is auspiciously the second-year anniversary of the day when we were all introduced to the terms community quarantine, and when work-from-home transformed into a necessary component of business continuity.”
“But the lockdown chapter is about to end and APC did not miss a beat during this period of transformation and provided that key product to sustain the national business continuity, energy,” emphasized Mr. Nakpil.
AP CFO Liza Luv Montelibano highlighted AboitizPower’s sustainable energy transition journey in the next 10 years. “This deal allows AboitizPower to partially fund future renewable energy projects and the early redemption of the 2018 Series B Bonds. By participating in this deal, you have helped AboitizPower in achieving its goal of growing its Cleanergy portfolio by 3-fold to 4,600 MW. You have also helped the company to achieve a 50:50 balance between its renewable energy and thermal capacities over the next decade,” said Ms. Montelibano as she thanked the AP team, issue participants, and investors alike.
Ms. Montelibano also shared updates on AP’s renewable energy projects. “Last month, we held the groundbreaking of PV Sinag Power. This is a 94 megawatts peak plant located in barangay Cayanga, municipality of Bugallon, Pangasinan. On top of that, we have the 160 megawatts peak Laoag Solar project expected to be issued a notice to proceed this year. And finally, we have an additional 721 megawatts peak of solar and hydro projects under priority development. As you can see, with our ongoing and upcoming projects, mostly focused on renewable energy, we are well on our way to a sustainable energy transition.”
This 7th listing for 2022 brings the year-to-date total of new listings to PHP 152.46 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.41 Trillion issued by 53 companies, comprising of 196 securities.