EDC planning US$300m bond issuance
Bacon-Manito geothermal power plant, Philippines (source: First Gen Corp.)
Alexander Richter
7 Jan 2011
Philippine's largest geothermal power producer Energy Development Corp. (EDC) is planning a US$300m bond issuance on the Singapore Exchange lead by Deutsche Bank and JPMorgan Securities.
Reported by Reuters, Philippine based Energy Development Corp. (EDC) is planning a bond issuance of up to US$300m.
The company received a board approval for it, but details of the final terms, size and timing of the US$ nominated bond sale would depend on market conditions.
The company plans to use the proceeds to fund projects, for capital expenditures, servicing debt and other corporate use. Listing is expected to happen on the Singapore Exchange.
The issuance will be lead jointly by Deutsche Bank and JPMorgan Securities.
Source: Reuters
