PHILIPPINE Dealing and Exchange Corp. (PDEx) listed the P17.45-billion fixed-rate retail bonds of listed Aboitiz Equity Ventures, Inc. (AEV) on Thursday.
In a stock exchange disclosure, AEV said its bond issuance consists of a base offer amounting to P11 billion and an oversubscription option of up to P6.45 billion.
“The bonds form part of the second and final tranche of retail bonds from AEV’s Securities and Exchange Commission (SEC)-registered P30 billion peso-denominated fixed-rate retail bonds shelf registration program in 2022,” AEV said.
“The PDEx listing paves the way for the secondary market trading of the Series ‘C’ Bonds, with a fixed interest rate of 6.3402% per annum maturing in 2025, Series ‘D’ bonds with a fixed interest rate of 6.4762% per annum maturing in 2028, and Series ‘E’ bonds with a fixed interest rate of 6.8032% per annum maturing in 2033,” the company added.
In July, AEV announced that it sought the SEC’s approval for the P17.45-billion retail bond offer.
The company also previously projected that the bonds could be offered to the public by the third quarter.
Last year, the company issued the first tranche of its fixed-rate retail bonds along with the final tranche of its 2019 bonds amounting to about P20 billion.
AEV’s core businesses are grouped into five main categories: power generation, distribution, and retail electricity supply, financial services, food manufacturing, real estate, and infrastructure.
In the first half of the year, AEV’s net income fell 11% to P10.5 billion from P11.8 billion a year ago.
On Thursday, AEV shares at the local bourse dropped 20 centavos or 0.43% to close at P45.80 each. — Revin Mikhael D. Ochave
