Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

SEC clears Aboitiz group for next tranche of P30-B bonds

ABOITIZ Equity Ventures, Inc. (AEV) on Tuesday said the Securities and Exchange Commission (SEC) has allowed the company to sell the third tranche of its P30-billion shelf-registered fixed-rate bonds.

In a disclosure to the exchange, AEV said it received its certificate of permit to offer securities for sale which was dated July 26.

The third tranche offer will consist of a principal amount of P5 billion, with an oversubscription option of up to P5 billion.

“AEV intends to list the Bonds with the Philippine Dealing & Exchange Corp.,” the company said.

The offer period began on Monday and will last until July 30. The bonds will be issued on Aug. 9.

AEV, in an earlier disclosure, said the proceeds from the third tranche of bonds will be used to finance the early redemption of some of its outstanding bonds, pay for the future funding requirements of Aboitiz InfraCapital, Inc., and for other general corporate purposes.

The Philippine Rating Services Corp. gave the bonds a “PRS Aaa” rating, which means that it has a minimal credit risk with the company having an “extremely strong” capacity to commit to its financial obligation.

Meanwhile, AEV shares at the stock exchange went up by 2.44% or 0.95 centavos to close at P39.95 each on Tuesday. — Keren Concepcion G. Valmonte

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Economy

Forbes 30-under-30 alumnus goes head-to-head with Amazon with smartphone-based retail checkout solution In 2015, MishiPay CEO Mustafa Khanwala waited 20 minutes in a...

Editor's Pick

PHILSTAR/MIGUEL DE GUZMAN Singapore — India, South Korea, and Thailand faced mounting coronavirus infections on Thursday, undermining...

Economy

Debenhams is to reopen 97 of its high street stores on Monday for a closing down sale to clear stock before they finally shut...

Economy

Facebook has not notified the more-than 530m users whose details were exposed on a hacker forum in 2019 and has no plans to do...

Disclaimer: SecretsOfRichDads.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Secrets Of Richdads. All Rights Reserved.

    Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!