Philippines’ Aboitiz Equity sets coupons for bonds at 6.0157%, 6.321%

By Marisa Wong

Morgantown, W.Va., June 18 – Aboitiz Equity Ventures Inc. set the interest rates for its previously announced fixed-rate retail bonds, according to a company announcement on Tuesday.

The bonds will be issued in two series: 6.0157% series A bonds due 2024 and 6.321% series B bonds due 2029, according to a 17-C filing with the Philippines Securities and Exchange Commission.

Aboitiz launched the public offering on June 3. The offer period ended on June 10, and the bonds are set to be issued on June 18.

The first tranche under Aboitiz Equity’s previously registered PHP 30 billion fixed-rate retail bond program has an initial size of PHP 3 billion and an oversubscription option of PHP 2 billion.

BDO Capital & Investment Corp. and First Metro Investment Corp. are the joint issue managers, joint lead underwriters and joint bookrunners.

Proceeds will be used to refinance wholly owned subsidiary AEV International Pte. Ltd.’s medium-term loan, as previously announced.

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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