Aboitiz Equity plans public offer of P17.45 billion retail bonds in 3Q

Aboitiz Equity Ventures Inc., the diversified investment holding company of the Aboitiz Group, said Thursday it intends to undertake the public offer of up to P17.45 billion worth of fixed-rate retail bonds in the third quarter.
 The planned bond sale is the last tranche of the P30 billion worth of bonds that Aboitiz Equity registered with the Securities and Exchange Commission last November.

The Philippine Ratings Services Corp., the local credit rating agency, has assigned its highest “PRS Aaa” rating with a stable outlook on the retail bonds. The stable outlook suggests the current credit rating on the bond won’t change in 12 months.

PhilRatings assigned the credit rating based on these considerations: Aboitiz Equity has experienced shareholders and management, with a strong track record; it has a highly diversified investment portfolio that cushioned the adverse impact of external headwinds on some of the company’s businesses in the first half of 2023; the company’s sound growth strategies, with a particular focus on digitalization and portfolio diversification; its sustained profitability; and its manageable leverage and liquidity positions.
Aboitiz Equity said it will list the retail bonds with the Philippine Dealing and Exchange Corp., which means it can be traded by bondholders.