ABOITIZ Power Corp. (AboitizPower) said on Friday that the Securities and Exchange Commission (SEC) has approved its application to issue up to P30 billion worth of fixed-rate corporate retail bonds under shelf registration.
AboitizPower said it received a letter on Friday from the Markets and Securities Regulation Department of the SEC informing the company that its bond issue application has been approved.
In a disclosure to the local bourse on Friday, AboitizPower said that the bonds will be registered under the shelf registration program of the SEC and will be issued in tranches.
The first tranche is equivalent to P2 billion, with an oversubscription option of another P1 billion.
The final approval of the registration statement of the bonds will be issued upon AboitizPower’s compliance of certain conditions, which include among others, the submission of certain documents to the SEC.