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AEV lists P24-B fixed-rate bonds; country’s largest corporate bonds to date

Following its debut last November 2013, AEV returned to the local debt market when it recently listed on the Philippine Dealing and Exchange Corp. its P24-billion fixed-rate bonds, the country’s largest corporate bonds for the year.

The listing took place last August 6 and was witnessed by Susan V. Valdez, AEV SVP and Chief Reputation and Risk Management Officer; Stephen G. Paradies, AEV Consultant; Gabriel V. Mañalac, AEV SVP and Group Treasurer; and Dmi Lozano, AEV SVP and Chief Financial Officer.

“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 fifth leg for Aboitiz Equity Ventures, and we intend to play a very active role in this sector,” said Lozano.

The bonds’ outstanding performance, which was 2.7 times oversubscribed in the primary market, was interpreted as a vote of confidence and approval of investors toward the reliability and competitiveness of AEV and the Aboitiz brand. The Philippine Rating Services Corp. gave the bonds the highest possible rating of “PRS Aaa.” Obligations rated PRS Aaa mean a firm’s capacity to meet its financial commitment on the obligation is extremely strong.