MANILA, PHILIPPINES – Aboitiz Equity Ventures Inc. (AEV) Board of Directors has approved the issuance of fixed-rate retail bonds amounting to Php17.45 billion during their board meeting on May 30, 2023.
This constitutes the “Second Tranche Bonds” from the company’s Php30 billion shelf registration program approved by the Securities Exchange Commission (SEC) in 2022.
In addition, the board has delegated management with the task of appointing issue manager(s), bookrunner(s), underwriter(s), and the trustee, along with the authority to determine the final interest rate, offer price, tenors, and other conditions of the Second Tranche Bonds.
The move is expected to generate significant capital for AEV as it continues to explore and expand its diverse business interests. The issuance is contingent on market conditions, and the company aims to offer these bonds to the general public during Q3 of 2023.
Upon issuance, the bonds will be listed with the Philippine Dealing and Exchange Corporation (PDEx), contributing to the strengthening of the local bond market and providing new opportunities for investors.
This development underscores AEV’s commitment to sound financial management and strategic growth.
BusinessNewsAsia