MANILA, Philippines - Aboitiz Power Corp. is eyeing to raise up to P5 billion from the sale of retail bonds, it told the Philippine Stock Exchange on Wednesday.

In a disclosure, Aboitiz said its board has approved the bond sale, and a syndicated loan worth another P5 billion. The company gave no details on the fund-raising activities.

Aboitiz generated P5 billion from issuance of 5-year fixed-rate notes last year to fund acquisitions and capital expenditures.