Philippines' Aboitiz Equity plans PHP 10 billion seven-, 10-year bonds

By Marisa Wong

Madison, Wis., Sept. 27 - Aboitiz Equity Ventures, Inc.'s board of directors authorized the issuance of up to PHP 10 billion of retail bonds with tenors of seven and 10 years, according to a 17-C filing with the Philippines Securities and Exchange Commission.

Aboitiz is planning to offer the bonds to the general public in the fourth quarter.

First Metro Investment Corp. will be the issue manager.

Proceeds will be used to finance investments and general corporate purposes.

Aboitiz Equity Ventures is the holding company for Aboitiz & Co.'s power, banking, food and transport businesses. The group is based in Cebu City, Philippines.

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