AboitizPower Lists PhP 9.55 Billion Fixed Rate Bonds in PDExPosted on: July 6, 2020
6 July 2020, Makati, Philippines — Aboitiz Power Corporation (AP) lists its PHP 9 Billion Series Dealing & Exchange Corp. (PDEx). This is the fourth and last tranche of its PHP 30 billion debt securities program, and is pegged to issue quarterly interest payments at 3.125% and 3.935%, respectively. Proceeds from the bond offering will be used to fund the company’s baseload capacity initiatives for the country’s energy needs.
In his welcome remarks, PDEx President and Chief Operating Officer Antonino A. Nakpil said, “We are pleased to welcome AboitizPower back to list this PHP 9.55 Billion issuance and last tranche of its PHP 30 Billion Shelf-Registered Bond Program. This is the third virtual listing ceremony on PDEx, and it is great to see AboitizPower able to achieve its funding from the community and thereby reaffirm its standing among public investors.”
Commissioner Kelvin Lester K. Lee of the Securities and Exchange Commission was also present in the listing ceremony, and congratulated AP and PDEx on today’s successful issuance notwithstanding the current global health crisis.
“The fact that we are able to still meet today, virtually, and have this launch attests to the resilience and adaptability of not only the PDS Group, but also to the perseverance and bravery of the people at AboitizPower and those who made this happen. And for that, I congratulate you all for making this launch possible, and for pushing through with these Bonds, despite the current worldwide economic outlook,” stated Mr. Lee.
AP Chief Financial Officer Liza Luv T. Montelibano also shared a few words on behalf of the issuer.
“The road to this ceremony has not been sparse with challenges, given the backdrop of the global pandemic and its consequential market uncertainties. The fact that we are all gathered today in a virtual platform is extraordinary,” said Ms. Montelibano.
“The success of this deal supports AboitizPower’s long-term aspirations, while providing investors with an opportunity to take part in a growth story they believe in, with a company they can trust,” added Ms. Montelibano.
This 18th listing for 2020 brings the year-to-date total of new listings to PhP 221.05 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.47 Trillion issued by 56 companies, comprising 201 securities.