Aboitiz Power informed the Philippine Stock Exchange that they are in the process of obtaining P3.9B worth of funds for their acquisition projects.
Aboitiz Power signed a notes facility agreement with a number of institutions (BDO Capital & Investment Corp., BPI Capital Corp., First Metro Investment Corp., ING Bank N.V. Manila) to act as joint lead managers. The notes will carry a term of five and seven years and will be issued to not more than 19 institutional investors.
Part of the funds will be used to bid for the governments 192.5-megawatt Palinpinon geothermal plant which will go on auction next year. There was also mention of plans to bid for the 1000-megawatt Sual power plant in Pangasinan and the 700-megawatt Pagbilao plant in Quezon owned by some independent power producers.
[source]
Category: Geothermal, Financing, Aboitiz
