Aboitiz Equity Ventures Inc., a diversified investment holding group, said Monday it is looking to raise P17.45 billion from the sale of retail bonds, including oversubscription.
AEV said it filed an application with the Securities and Exchange Commission for the issuance of bonds, which will be the second tranche of the company P30 billion debt securities program that was shelf registered in November.
“Subject to market conditions, the 2023 Bonds are expected to be offered to the general public during the third quarter of 2023. AEV intends to list the 2023 Bonds with the Philippine Dealing and Exchange Corp.,” the company said.
Details of the offer weren’t immediately available.
Proceeds from the first tranche were used for the acquisition by its wholly-owned subsidiary, Aboitiz InfraCapital Inc., of GMR-Megawide Cebu Airport Corp. and to refinance maturing debts.
