Philippines' Energy Development registers PHP 6 billion bonds in two tranches plus greenshoe

By Jennifer Chiou

New York, Sept. 25 - Energy Development Corp. said it filed a registration statement with the Securities and Exchange Commission for the issue of PHP 6 billion of fixed-rate retail bonds.

There is an over-allotment option for PHP 4 billion additional bonds.

The issue will be split into two tranches, with the first tranche having a 51/2-year term and the other with a seven-year term.

Proceeds will go toward partially refinancing the company's outstanding foreign currency denominated notes as well as for general corporate purposes.

Energy Development said it will follow its filing with additional details.

The producer of geothermal energy is based in Taguig City, the Philippines.

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