Connect with us

Hi, what are you looking for?

Stock Markets

AEV sets early redemption of bonds due 2023

Aboitiz Equity Ventures, Inc. (AEV) on Friday said it will exercise the early redemption of its 10-year, fixed-rate retail bonds ahead of the 2023 maturity date.

In a regulatory filing on Friday, AEV said it intends to redeem the securities, which were issued in 2013, on Nov. 21.

“Through the optional redemption, AEV will prepay the optional redemption price of 101% of the face value of the 2013 10-Year bonds, in the amount of P1.8 billion only,” the company said.

AEV said it will use existing cash to repay the bonds.

The company is coordinating with the trustee Metrobank Trust Banking Group, and the registrar and paying agent Philippine Depository and Trust Corp. to notify the bond holders and provide computations on the amount.

Earlier this month, AEV acquired P384 million worth of shares in its banking unit UnionBank of the Philippines.

In September, AEV announced plans to sell 25% of its stake in its power subsidiary Aboitiz Power Corp. to Japan’s JERA Co., Inc. for an estimated $1.463 billion.

Shares of AEV in the local bourse improved 2.32% or P1.1 to close at P48.45 apiece on Friday. — Angelica Y. Yang

Click to comment

Leave a Reply

Your email address will not be published.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

You May Also Like

Stock Markets

PHILIPPINE STAR/ MICHAEL VARCAS SAO PAULO — Brazil’s federal health regulator Anvisa on Saturday suspended the use of over 12 million doses of a...

Stock Markets

GLOBE Telecom, Inc. announced on Tuesday that it signed term loan facilities with Bank of the Philippine Islands (BPI) and Metropolitan Bank & Trust...

Stock Markets

THE GOVERNMENT has partnered with grocery operator Puregold Price Club, Inc. on a program that will offer cheaper frozen meat products to consumers. Under...

Finance

A 12-year-old boy from London has made about £290,000 during the school holidays, after creating a series of pixelated artworks called Weird Whales...

Disclaimer: CaptainOfSuccess.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 Captain Of Success. All Rights Reserved.