EDC said it filed a registration statement seeking the approval of the Securities and Exchange Commission (SEC) for the issuance of bonds.
The power producer plans to sell an aggregate principal amount of P5 billion, with an over-subscription option of up to P2 billion.
In its registration statement, EDC said the bonds are composed of two tranches: seven-year fixed rate bonds due in 2020 and 10-year fixed rate bonds due in 2023.
“The proceeds from the issuance will be used primarily to support its business expansion plans, finance capital expenditures and fund general corporate purposes,” EDC said.
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