Aboitiz Equity Ventures Inc., a listed diversified investment holding company, said Wednesday that its board has approved the issuance of fixed-rate retail bonds with a total size of P17.5 billion, including oversubscription.
The proposed retail bond issuance is the second tranche of the P30 billion shelf registered by Megawide with the Securities and Exchange Commission in 2022.
Aboitiz said the board has delegated to management the appointment of issue managers, bookrunners, underwriters, and the trustee; and the determination of the interest rate, offer price, tenors, and other terms and conditions of the retail bonds.
Aboitiz expects make a public offer of the retail bonds in the third quarter subject to market conditions. The bonds will be listed on the Philippine Dealing and Exchange Corp.
Aboitiz raised last year raised P20 billion from the issuance of Series A bonds due 2026 with a fixed interest rate of 6.8725 percent and the Series B bonds due 2029 with an interest rate of 7.5321 percent. The first tranche included P7.5 billion from the bond it registered with the SEC in 2019.
