Recently inducted Aboitiz Equity Ventures (AEV) President and CEO, Erramon Aboitiz, announced that they are going to issue retail bonds to raise between P2 - 3 billion so that they can continue purchasing energy assets of the Philippine government marked for privatization and so as to increase further their liquidity.
Aboitiz said: “We have enough internal funds for our capital expenditure requirements for this year. We’re just building our liquidity requirements for acquisition of more power assets and our greenfield projects”
Last year, Aboitiz was in the process of raising P3.9B from 19 institutional investors to fund their acquisition.
Aboitiz was in a spending spree, acquiring hydro electric projects that were being offered up by the Philippine government for privatization.
Industry rival, Energy Development Corp (EDC), went the way of getting a loan from the IFC to finance their expansion projects this year.
[source]
Category: Aboitiz
