The Aboitiz family’s power arm is paying off P7.7 billion worth of Series B bonds ahead of its due date.
In a stock exchange filing, Aboitiz Power Corp. said it is redeeming all of its outstanding 5.25-year fixed-rate retail bonds issued on October 25, 2018, ahead of the January 2024 maturity schedule.
Aboitiz Power said it would prepay its 2018 Series B Bonds at an optional redemption price of 100.25 percent of their face value on October 25, 2022.
The company is coordinating with BDO Unibank Trust and Investment Group. and the Philippine Depository and Trust Corp. (PDTC) for the corresponding notices and computation of the amounts due to the bondholders.
Aboitiz Power reported a two percent drop in its six-month net income to ₱10 billion. Core net earnings dipped nine percent to ₱9.2 billion.