APC lists PhP10B bonds

September 12, 2014

Publicly-listed company Aboitiz Power Corporation (APC) listed with the Philippine Dealing System its recently-issued PhP10 billion fixed-rate retail bonds.

The 7YR Series A APC Bonds carries a fixed interest rate of 5.205 percent per annum and is due in 2021 while the 12YR Series B bonds carries an interest rate of 6.100% and will be due on 2026.

APC said that the proceeds will be used “partially finance the company’s new power generation projects, replenish working capital, and for other general corporate purposes.”

Credit rating agency Philippine Rating Services Corp. gave the APC Bonds the rating of PRA AAA, the highest credit rating it can give.

PJS Law advised APC in this transaction. The PJS Law team was led by its Managing Partner, Reggie Barrientos, and included Francis Alvin V. Asilo, Maria Theresa Vivian Ventura-Pugeda and Salma Angkaya-Kuhutan.