Aboitiz Power Corporation Return to PDEx with its PHP 12 Billion Second Tranche BondsPosted on: December 2, 2021
02 December 2021, Makati, Philippines — Aboitiz Power Corporation (AP) lists the second tranche of its PHP 30 Billion debt securities program. For this tranche, it was noted that AP also decided to utilize the e-Securities Issue Portal (e-SIP), and in turn saved thousands of paper, living up to their principles of sustainability.
Their PHP 12 Billion worth of 4-year and 7-year bonds carry a coupon rate of 3.9992% and 5.0283% p.a., respectively, to be paid quarterly.
In his welcome remarks, PDEx President and CEO Antonino A. Nakpil said: “It is gratifying to see the debt capital market supporting power-generating companies such as AP, that is, never-pausing front-line firms operating through what would now be 20 months of a health crisis, providing the key resource of the WFH economy, energy.”
“Once again APC is showing the way on how to transition from the carbon-based toward the more climate-friendly carbon-neutral technologies.”, added Mr. Nakpil.
Meanwhile, AP First Vice President – Chief Financial Officer, Power Generation Group Racquel Bustamante remarked: “This deal allows AboitizPower to bolster its capital by refinancing maturing debt and replacing existing premium-cost debt. It also allows the company to partially fund equity contributions to renewable energy projects. This helps AboitizPower in achieving its goal of growing its Cleanergy portfolio by 3-fold to 4,600 MW to achieve a 50:50 balance between our renewable energy and thermal capacities over the next decade.”
This 20th listing for 2021 brings the year-to-date total of new listings to PHP 198.59 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.31 Trillion issued by 53 companies, comprised of 190 securities.