AboitizPower gets go-signal for P100 billion fixed-rate bonds

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June 14, 2025 | 12:00am

MANILA, Philippines — The Securities and Exchange Commission (SEC) has approved Aboitiz Power Corp.’s shelf registration of up to P100 billion in fixed-rate bonds.

Securities may be registered for an offering to be made in tranches under the shelf registration program, allowing companies the ability to take advantage of opportunities in a volatile debt capital market.

For its initial offering, AboitizPower is targeting to raise up to P30 billion.

The first tranche will include the offering of up to P20 billion in fixed-rate bonds, with an oversubscription option of up to P10 billion.

The SEC said that AboitizPower could net up to P29.64 billion from the offer assuming that the oversubscription option is fully exercised. 

Proceeds will be used by the power unit of the Aboitiz Group for the refinancing and early redemption of the  existing debt.

Based on the latest timeline submitted by AboitizPower to the SEC, the offer is targeted to run from June 23 to 27, with the bonds to be listed on the Philippine Dealing and Exchange Corp. on July 7.

The company has tapped BDO Capital and 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. as the joint issue managers and joint lead underwriters for the offer. 

AboitizPower, together with its partners, has allotted P78 billion for capital expenditures in 2025.

Of the amount, about 66 percent was earmarked for the company’s renewable energy portfolio, while the remainder is for the maintenance of its baseload plants.

AboitizPower will also be making further investments in land, new substations and new meters for its distribution business.