MANILA - Philippine power producer Energy Development Corp. said on Friday it may sell as much as P10 billion ($211 million) worth of fixed-rate bonds to refinance maturing debt.

The country's largest geothermal energy producer said in a disclosure to the stock exchange it would sell P6 billion worth of bonds, with an option to raise the offer to P10 billion.

The issue size would be split between 2 tenors of 5.5 and 7 years. The company, a unit of the Philippines' largest privately held power generation firm First Gen Corp., said it picked BDO Capital & Investment Corp as issue manager and sole bookrunner.