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SEC approves AEV’s P10-billion bond offering

The Securities and Exchange Commission approved the P10-billion fixed-rate bond offering of conglomerate Aboitiz Equity Ventures Inc.

AEV said in a disclosure to the stock exchange Thursday it received SEC’s permit to sell securities, which allows it to offer P5 billion worth of bonds with an oversubscription option for another P5 billion.

The P10-billion bond offering represents the second tranche of the company’s P30-billion bond-shelf registration program earlier approved by the SEC.

The offering period will be from Oct.29 to Nov. 6.  The bonds will be issued and listed on the Philippine Dealing & Exchange Corp on Nov. 16, 2020.

Net proceeds from the planned issuance will be used to partially refinance the company’s maturing loans.

The conglomerate has P6.2-billion seven-year bonds and another P10.46-billion five-year bonds maturing in November this year.

It appointed BDO Capital and Investment Corp., BPI Capital Corp., China Bank Capital Corp., First Metro Investment Corp., and SB Capital Investment Corp. as joint issue managers, joint lead underwriters and joint bookrunners for the offering.

The bonds earlier received the highest possible rating of “PRS Aaa” from the Philippine Rating Services Corp.

Topics: SEC , AEV , Aboitiz Equity , bond offering
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