Aboitiz Power Corp. (AboitizPower), the power arm of conglomerate Aboitiz Equity Ventures Inc., will tap the debt market in the latter part of this year to raise P10 billion from a bond sale to bankroll its ongoing projects.
At a special meeting held on Wednesday, the board of directors of AboitizPower authorized the company’s plan to issue peso-denominated, fixed-rate retail bonds of up to P10 billion. Asked what specific projects would be funded by the bond issue, company officials declined to comment.
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