AEV lists PhP8B bonds




November 28, 2013

Top conglomerate Aboitiz Equity Ventures (“AEV”) has listed with the Philippine Dealing System its recently-issued PhP8 billion Fixed Rate Bonds due November 2020 and November 2023. The 7YR AEV Bonds carries a fixed interest rate of 4.4125% per annum and is due in 2020. The 10YR AEV Bonds carries a fixed rate of 4.6188% per annum and is due in 2023.

Citing AEV’s extremely strong capacity to pay its obligations, credit rating agency Philippine Rating Services Corp. gave the AEV Bonds the rating of PRA Aaa, the highest credit rating it can give. AEV, in its statement, said that the proceeds will be used “to finance its planned investments and for other general purposes.”

AEV is the investment arm of the Aboitiz Group. Its subsidiaries include AboitizPower, the country’s dominant power generation and distribution company, AboitizLand, Pilmico Foods, and UnionBank.

PJS Law advised AEV in this transaction. The PJS Law team was led by its Managing Partner, Reggie Barrientos, and included Francis Alvin V. Asilo.