PDEx authorizes 10 billion peso debt securities of the Aboitiz company

THE Philippine Dealing & Exchange Corp. (PDEx) has given the green light to Aboitiz Equity Ventures, Inc. (AEV) to list the third tranche of its retail bonds worth 10 billion pesos, including oversubscriptions, the holding company announced on Monday. listed.

In a regulatory filing, AEV said the third tranche is part of its registered off-the-shelf bonds, which are cumulatively valued at 30 billion pesos.

“PDEx approval paves the way for bond trading in the secondary market,” the company said.

The bonds will be issued in two series, namely: series “E” with a fixed interest of 3.2977% per annum maturing in 2025, and series “F” with a fixed interest of 4.1018% per annum maturing in 2028.

The Aboitiz-led company said earlier that the offering for the third tranche of its debt securities consists of a principal amount of 5 billion pesos, with an oversubscription option of up to 5 billion pesos.

Last month, the corporate regulator cleared the third tranche of AEV by issuing the company a certificate of authorization to offer the securities for sale.

In a statement filed in June, the company said proceeds from this tranche will be used to repurchase some of its outstanding bonds, fund the future needs of Aboitiz InfraCapital, Inc. and for other general corporate purposes. .

Local debt watcher Philippine Rating Services Corp. issued a “PRS Aaa” rating for the bonds, noting that the securities present minimal credit risk and that the company has an “extremely strong” ability to meet its financial commitments.

AEV holds investments in electricity, banking and financial services, food, infrastructure and land.

The company previously announced a 159% year-on-year increase in consolidated net profit in the second quarter to 4.9 billion pesos amid higher contributions from its business segments.

AEV shares on the local stock exchange edged down 1.36% or 55 centavos to close at P40 apiece on Monday. — Angelica Y. Yang

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John A. Bogar