Aboitiz Equity Ventures to sell up to PHP 10 billion retail bonds in Q3

By Rebecca Melvin

Concord, N.H., June 4 – Philippines’ Aboitiz Equity Ventures Inc. plans to offer up to PHP 5 billion principal amount of fixed-rate retail bonds with an up to PHP 5 billion oversubscription option in the third quarter of 2021, according to a 17-C filing with the Philippines Securities and Exchange Commission.

The issuance represents the third tranche under Aboitiz Power’s registered PHP 30 billion fixed-rate retail bond program.

Proceeds will be used to fund the early redemption of some outstanding bonds, to finance future funding requirements of Aboitiz InfraCapital Inc. and other general corporate purposes.

The Philippine holding company operates in four sectors including consumer good, utilities, financials and industrials and is based in Taguig City, Philippines.

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