Aboitiz Equity Ventures Inc. (AEV) looks to raise P17.45 billion in new funding through the sale of bonds, sourced from an earlier approved P30-billion borrowing program.
The company said this will form part of the second tranche of the shelf-registered bond issuance with the Securities and Exchange Commission (SEC).
AEV said it has yet to tap the issue manager, bookrunner, and underwriter who will facilitate the fund raising.
“Subject to market conditions, the second tranche bonds are expected to be offered to the general public during the third quarter of 2023 and shall be listed with the Philippine Dealing and Exchange Corp. (PDEx) as and when issued,” AEV said.
AEV t plans to spend more than P70 billion this year as capital expenditures to fuel growth despite what an official say is a slowing environment.
