Energy Development Corp (EDC), the Philippines' largest geothermal power producer, said on Friday it had board approval to sell $300 million of bonds.
The company, a unit of First Gen Corp, one of the country's largest privately owned power generation firms, told the stock exchange the final terms, size and timing of the dollar bond sale would depend on market conditions.
It intends to use the proceeds to fund projects, capital expenditures, debt servicing requirements, and other general corporate purposes.
The bonds are intended to be listed on the Singapore Exchange Securities Trading Ltd, the company said.
Deutsche Bank and JPMorgan Securities Ltd are joint lead managers for the transaction.
