| By Neil Jerome C. Morales (The Philippine Star) Updated May 04, 2012 12:00 AM |
MANILA, Philippines - Aboitiz Power Corp., the energy unit of the Aboitiz Group, has completed the buyback of its existing retail bonds, the company said in a disclosure yesterday.
The power firm said it completed the “full payment of the principal and accrued interest on its five-year and three-year peso fixed rate bonds on April 30.”
“The payment of the bonds comprises both the final payment upon maturity of the three-year peso fixed rate bonds and the early redemption of the five-year peso fixed rate bonds,” the company said.
In March, Aboitiz Power said it will avail of the optional redemption date for the five-year bonds, which will mature in 2014.
In April 2009, Aboitiz Power issued a total of P3 billion in peso-denominated fixed retail bonds. The issue was 2.5 times oversubscribed.
Proceeds from the bond sale partially funded the acquisition of the 747-megawatt Tiwi-Makban geothermal plants in Albay.
Aboitiz Power said the payment was made through appointed paying agent Philippine Depository and Trust Corp.
Aboitiz Power is the holding company for the Aboitiz Group’s investments in power generation, distribution, retail and power services.
The firm is investing P35 billion for 354 MW - 300-MW clean coal facility of Therma South Inc. and 54-MW run-of-river hydro plants of Hedcor Inc. - of new generating capacity in Mindanao until 2015. source
The power firm said it completed the “full payment of the principal and accrued interest on its five-year and three-year peso fixed rate bonds on April 30.”
“The payment of the bonds comprises both the final payment upon maturity of the three-year peso fixed rate bonds and the early redemption of the five-year peso fixed rate bonds,” the company said.
In March, Aboitiz Power said it will avail of the optional redemption date for the five-year bonds, which will mature in 2014.
In April 2009, Aboitiz Power issued a total of P3 billion in peso-denominated fixed retail bonds. The issue was 2.5 times oversubscribed.
Proceeds from the bond sale partially funded the acquisition of the 747-megawatt Tiwi-Makban geothermal plants in Albay.
Aboitiz Power said the payment was made through appointed paying agent Philippine Depository and Trust Corp.
Aboitiz Power is the holding company for the Aboitiz Group’s investments in power generation, distribution, retail and power services.
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