SEC approves Aboitiz Equity’s P30-B bond offer

Aboitiz Equity Ventures Inc. (AEV) received from the Securities and Exchange Commission (SEC) on Monday the registration order and permit to sell a total of P30 billion of corporate bonds.

“The first tranche equivalent to p3 billion, with an oversubscription of P2 billion, will be issued on June 18, 2019, while the remaining balance shall be lodged under the shelf registration program of the SEC to be issued in future tranches,” the company said in a regulatory filing submitted by Mailene de la Torre, AVP for Governance and Compliance and assistant corporate secretary.

The public offer for the first tranche will commence on June 3, 2019, and will end on June 10, 2019.

AEV engaged BDO Capital & Investment Corporation and First Metro Investment Corporation as joint issue managers, joint lead underwriters, and joint bookrunners, with BDO Unibank Inc.-Trust and Investments Group as trustee, and the Philippine Depository & Trust Corp. as registrar for the first tranche of the bonds.

AEV intends to list the bonds with the Philippine Dealing & Exchange Corporation .

The bonds earlier received the highest possible rating of “PRS Aaa” from the Philippine Rating Services Corporation. —VDS, GMA News