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Philippines’ Aboitiz Equity Ventures eyes up to PHP 10 billion bonds
By Marisa Wong
Los Angeles, Oct. 1 – Aboitiz Equity Ventures Inc. is proposing to issue up to PHP 5 billion of fixed-rate retail bonds with an up to PHP 5 billion oversubscription option, according to a 17-C filing with the Philippine Securities and Exchange Commission.
This will be the second tranche under the company’s PHP 30 billion fixed-rate retail bond program.
Philippine Rating Services Corp. has assigned a rating of PRS Aaa to the proposed issuance.
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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