PHP 24 Billion Three Series Fixed Rate Bonds, the Year-To-Date Largest Corporate Bond Issue In PDEx, Marks Aboitiz Equity’s Return to the Local Debt MarketPosted on: August 12, 2015
06 August 2015, Makati City – Following its debut last November 2013, Aboitiz Equity Ventures, Inc. (AEV) returned to the Philippine Dealing and Exchange Corp. (PDEx) organized secondary market and listed its PhP 24 Billion fixed rate bonds due 2020, 2022, and 2027, the largest corporate bond issuance in PDEx thus far this year. This brings the cumulative level of listed Aboitiz Group bonds to PhP 42 Billion.
Three Series were listed today namely: Series A with an issue size of PhP 10.46162 billion, maturity date of five years and three months at 4.4722 per cent interest rate per annum; Series B with PhP 8.46703 billion, seven years at 5.0056 per cent per annum; and Series C with PhP 5.07135 billion, 12 years at 6.0169 per cent per annum.
The Philippine Rating Services Corp. gave the bonds the highest possible rating of “PRS Aaa.” Obligations rated PRS Aaa means the firm’s capacity to meet its financial commitment on the obligation is extremely strong.
This seventh listing in PDEx for 2015 brings the year-to-date total of new listings to PhP 69.39 Billion and the total level of tradable corporate debt instruments to P 508.78 billion issued from 96 securities and issued by 33 companies.
PDS Group President & CEO Cesar B. Crisol said: “While we at the PDS Group are optimistic that corporate issuances would regain momentum similar to last year’s record year performance, we continue to roll up our sleeves, taking even bigger and bolder steps towards achieving an agile and robust infrastructure that would allow our market and its stakeholders to keep pace with the changes in the regional marketplace.”
AEV SVP and Chief Financial Officer Manuel R. Lozano remarked: “The bond listing is really crucial for our continued overall growth including our planned acquisitions and further investments. We foresee a large inflow of public and private investments in infrastructure over the next 10 to 15 years and this is why we’ve added infrastructure-related businesses as our 5th leg for Aboitiz Equity Ventures, and we intend to play a very active role in this sector.”
Representatives from the underwriters also attended the event including BPI Executive Vice President Simon R. Paterno, BPI Capital Corporation Managing Director Reginaldo B. Cariaso, First Metro Investment Corporation President Roberto Juanchito T. Dispo, BDO Capital and Investment Corporation Senior Vice President Lea Hilado, China Banking Corporation Investment Banking Head Virgilio O. Chua, RCBC Capital President Joey Gomez, and Land Bank of the Philippines Investment Banking Head James A. Aldana.#