Aboitiz Equity Ventures, Inc. Lists PHP 7.55 Billion Fixed Rate Bonds on PDExPosted on: November 16, 2020
16 November 2020, Makati, Philippines — A returning issuer, Aboitiz Equity Ventures, Inc. (AEV), listed its PHP 7.55 Billion 3-year and 5-year Fixed Rate Bonds on the Philippine Dealing & Exchange Corp. (PDEx). The bonds carry an interest rate of 2.8403% and 3.3059% per annum, respectively, to be paid quarterly.
Guided by its corporate philosophy of good corporate governance and sustainable business practices, AEV has been providing services in five major industries in the country for more than 100 years.
In his welcome remarks, PDEx President and Chief Executive Officer Antonino A. Nakpil lauded AEV’s well laid-out and thoughtful sustainability framework that focuses on three P’s: People, Planet, Profit.
“AEV has been progressing with this corporate philosophy for years, notably evidenced by its power subsidiary’s green bond global accolades and commitment to ‘Cleanergy’ and its banking subsidiary Union Bank’s leadership in digital financial technologies. Today’s Issuer, ‘walks the walk’, so to speak,” remarked Mr. Nakpil.
AEV Chief Financial Officer Manuel R. Lozano shared the proceed utilization of the issuance, which will partially finance AEV’s equity contributions to Apo Agua, a Davao-based water infrastructure company that aims to provide over 300 million liters of potable water daily to over 1 million Davao City residents.
“This is a direct contribution to the United Nations sustainable development goal number 6 of ensuring access to clean drinking water and sanitation for all. It will also be one of our building blocks in the execution of our ESG strategy for the next decade,” said Mr. Lozano.
“Apo Agua’s existence revolves around the need to take good care of the environment to ensure the sustainability of our water supply, and this bond offering is a show of support for this need,” added Mr. Lozano.
This 31st listing for 2020 brings the year-to-date total of new listings to PHP 343.15 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.46 Trillion issued by 56 companies, comprised of 204 securities.