CJ Bajao | June 15, 2017
Hedcor Sibulan, Inc.’s 4.1 billion-peso project notes facility has been recognized internationally by The Asset Triple A Infrastructure Awards 2017 as the Renewable Energy Deal of the Year for hydro category.
Hedcor Sibulan’s issuance of Php4.1B SEC Registration-exempt Peso Denominated Fixed Rates Notes was evaluated by the Philippine Rating Services Corporation (PhilRatings) and received a credit rating of PRS Aa+ which means that Hedcor Sibulan’s obligations are of high quality and subject to a very low credit risk—the capacity to meet its financial commitment on the obligation is very strong.
The project is intended to finance the redemption of a portion of preferred shares in line with its capital management program to pay issue related expenses and for general corporate purposes.
This is the 2nd to the highest credit rating with stable outlook from Philratings and the 1st in First Metro Investment Corporation (FMIC, Issue Manager) to structure this type of fundraising. It is also the 1st in AboitizPower to refinance through fixed rate notes offered to Primary Institutional Lenders (PILs) in accordance with Securities Regulation Code.
The Asset awards are Asia’s preeminent recognition for those that have excelled in their respective industries.