Aboitiz Power to raise funds via corporate fixed notes

Aboitiz Power Corp. is seeking fresh capital through the issuance of corporate fixed notes. In a statement to the Philippine Stock Exchange, Aboitiz Power said it would be issuing a five-year peso denominated corporate fixed-rate notes worth P5 billion. The issue manager is the First Metro Investment Corp while the notes facility agent is the Metropolitan Bank & Trust Co.'s Trust Banking Group. The notes will be issued to, at most, 19 primary institutional investors, the company added. Company officials earlier said Aboitiz Power remains interested in other power assets of the government, particularly the hydro assets. It is also considering bidding for power barges in Mindanao. - GMANews.TV