First Gen prepares for dollar bond offeringBy Amy R. Remo
Philippine Daily Inquirer
First Gen Corp. has tapped three financial institutions to arrange investor meetings here and overseas prior to a prospective dollar-denominated bond offering.
In a disclosure to the Philippine Stock Exchange Monday, First Gen said it had mandated Deutsche Bank, HSBC and J.P. Morgan to arrange a series of fixed income investor meetings in Manila, Hong Kong and Singapore.
“A Regulation ‘S’ US dollar bond offering may follow, subject to market conditions,” it further reported.
The company, however, did not provide further details.
First Gen earlier reported a 17.4-percent decline in its net income attributable to equity holders of the parent to $77.7 million in the first half of 2013, from $94 million a year ago.
The company, with its portfolio of 15 power generation plants, is currently one of the biggest players in the industry with an installed capacity of 2,763 megawatts.