AboitizPower lists first tranche of Php30 billion shelf-registered bonds in the PDEx organized secondary market

July 07, 2017

On July 3, Aboitiz Power Corporation (AboitizPower) returned to the Philippine Dealing & Exchange Corp. (PDEx) a secondary market for its third public listing with the first tranche of its Php 30 billion shelf-registered securities - Php 3 billion Series A Fixed Rate Bonds due 2027.

AboitizPower CFO Liza Luv T. Montelibano led the ringing of the bell to herald the listing and the start of trading of the AP Series A Bonds due 2027 on the PDEx platform.

With this listing, the combined level of outstanding securities of AboitizPower and Aboitiz Equity Ventures, Inc. (AEV) listed on PDEx stands at Php 45 billion, representing 6% of the total corporate fixed-income issues in this registered market.

This fifteenth listing for the year brings the year-to-date total of new listings to Php 110.38 billion, an increase of 555% from the same period last year; while the total level of tradable corporate debt instruments reaches Php 711.09 billion comprised of 120 securities from 45 companies.

In his welcome remarks, PDEx President and COO Antonino A. Nakpil said: “This continued return to the market indicates AboitizPower’s confidence in bond issuances as a viable funding mechanism, as well as trust in a secondary market that supports investors of its bonds.

And it is a mutual trust as its investors have responded with enough demand for the over-allotment option of PhP 1 Billion to be exercised, allowing AboitizPower to raise PhP 3 Billion from the original PhP 2 Billion offer.

”For her part, Montelibano said: “We are driven to push the company's growth by taking on projects and seizing opportunities as they come.

This 30-billion peso shelf registration, which includes this 3-billion issuance will provide us the needed agility to take on initiatives that will bring us faster into achieving our goal of reaching 4,000-MW of net sellable capacity by 2020. We want to and we will continue to play our role in fulfilling the country's growth story.

”Present in the listing ceremony were the Aboitiz Group Officers, including AboitizPower CFO Liza Luv T. Montelibano, AEV CFO Manuel R. Lozano, and AEV Group Treasurer Gabriel T. Mañalac, and the Issue Underwriters led by BPI Capital Corporation President Juan Carlos L. Syquia.

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