Aboitiz Equity Ventures to redeem PHP 8.47 billion bonds due 2022

By Marisa Wong

Los Angeles, July 6 – Philippines’ Aboitiz Equity Ventures Inc. announced it will redeem in full its outstanding series B fixed-rate retail bonds issued in 2015 a year ahead of their 2022 schedule maturity, according to a 17-C filing with the Philippine Securities and Exchange Commission.

The company will prepay the PHP 8,467,000,000 bonds at 100.5 on Aug. 6.

“The prepayment of the bonds is part of our continuing efforts to reduce costs and further improve profitability for all of our stakeholders,” chief financial officer Manuel Lozano commented in a press release.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.