Conglomerate Aboitiz Equity Ventures Inc. and Century Properties Group plan to issue fixed-rate peso bonds this year.
AEV said in a disclosure to the stock exchange its board approved approved the filing with the Securities and Exchange Commission of up to P30 billion in bond shelf registration.
The bonds, which will be issued one or more tranches depending on market conditions, will be listed with Philippine Dealing and Exchange Corp.
“AEV will use the proceeds of the bonds to finance planned acquisitions, future investments and other general corporate requirements,” the conglomerate said.
The final terms of the bonds, including the price, tenors and other conditions will be set by the management of the company.
AEV chief finance officer Manuel Lozano earlier said the conglomerate planned to spend between P50 billion and P60 billion for 2019.
The conglomerate plans to use the bulk of the capital expenditures for expansion of the power business, and the requirements of the water and real estate units.
CPG, meanwhile, disclosed plans to issue up to P3 billion worth of unsecured fixed-rate peso denominated retail bonds to fund several property projects.
CPG said its board of directors approved the public offering of retail bonds to be filed with the SEC.
The property firm in December opened the P1.6-billion green office building Asian Century Cente in Bonifacio Global City, Taguig.
The group is currently constructing two more office buildings that will further boost the company’s leasing portfolio.
CPG last month teamed up with Dennis Uy-led Global Gateway Development Corp. to develop a portion of its 177-hectare property in Clark into a mixed-use development.
CPG and GGDC will build a mix of residential and office buildings with support retail establishments within a 2.6-hectare lot in Clark Global City.
The bond listing with PDEx hit an all time high of P256.4 billion in 2018, boosted by retail bond offerings of banks, conglomerates and property companies.
PDEX this year remains bullish about the bond market as companies are expected to continue to raise funds to finance their capital spendings plans.
