Philippines' Aboitiz taps First Metro, HSBC as leads for retail bonds

By Marisa Wong

Madison, Wis., Oct. 21 - Aboitiz Equity Ventures, Inc. has appointed First Metro Investment Corp. and HSBC as joint lead underwriters for its upcoming issue of retail bonds, according to a 17-C filing with the Philippines Securities and Exchange Commission.

The company announced on Sept. 27 that its board of directors authorized the issuance of up to PHP 10 billion of retail bonds with tenors of seven and 10 years.

First Metro Investment Corp. will also act as issue manager, as previously noted.

Aboitiz is planning to offer the bonds to the general public in the fourth quarter, according to the prior announcement.

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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