The flurry of interests from both retail and institutional investors drummed up the latest bond issuance of the Lopez-controlled Energy Development Corporation (EDC) wherein it raised P12 billion in proceeds.

BDO Capital & Investment Corporation had been tapped issue manager and sole bookrunner for the issue; while BDO Capital, RCBC Capital Corporation, BPI Capital Corporation and SB Capital Investment Corporation were joint lead underwriters.

The company, in a statement, noted that its maiden retail bond offering had been oversubscribed, prompting it to raise P2 billion more from the originally planned P10 billion.

For the bonds with five-year tenor, the yield would be 8.6418-percent per annum, while those with seven-year tenor will carry a yield of 9.3327-percent. The bond issue which was formally offered to the public last November 18 will be issued on December 4.

The approval granted by the Securities and Exchange Commission (SEC) on the EDC’s bond issue gave it leverage for oversubscription of up to P2.0 billion “in case of strong investor demand.”