Aboitiz Equity Ventures Eyes Issuance of Second Tranche Bonds

Philippine-listed Aboitiz Equity Ventures Inc. (AEV) filed an application with the Securities and Exchange Commission (SEC) to issue the second tranche of fixed-rate retail bonds (the “Second Tranche Bonds”) from its P30 billion shelf registration program, which was registered with the SEC on June 3, 2019.

The Second Tranche Bonds will consist of a primary offering of fixed-rate retail bonds up to P5 billion in aggregate principal amount, with an oversubscription option of up to P5 billion. The Second Tranche Bonds are expected to be offered to the general public during the fourth quarter of 2020, or at a later date, subject to market conditions.

AEV intends to use the proceeds from the Second Tranche Bonds to partially refinance maturing obligations from its previously issued bonds.

For the proposed offering, AEV has appointed the following: BDO Capital & Investment Corporation and First Metro Investment Corporation as Joint Issue Managers; BDO Capital & Investment Corporation, BPI Capital Corporation, First Metro Investment Corporation, China Bank Capital Corporation, and SB Capital Investment Corporation, as Joint Lead Underwriters; and BDO Unibank, Inc. – Trust and Investments Group as the Trustee.

AEV intends to list the Second Tranche Bonds with the Philippine Dealing and Exchange Corp. – BusinessNewsAsia.com