Real estate giant Ayala Land, Inc. (ALI) has listed its new P15-billion fixed-rate bonds due 2028 and 2033 at the Philippine Dealing and Exchange Corp. (PDEX).
Photo Insert: The net proceeds of the offering will be used to partially fund ALI's capital expenditures and refinance short-term borrowings for the year, in line with its thrust to fortify its balance sheet and execute its recovery and growth plans.
The bonds due in 2028 totaling P10.1 billion carry a coupon rate of 6.0253 percent per annum (p.a.), while the bonds due in 2033 amounting to P4.9 billion have a coupon rate of 6.2948 percent p.a.
ALI Chief Finance Officer, Treasurer, and Chief Compliance Officer Augusto D. Bengzon said this "marks the second largest bond issuance of ALI, our largest 5-year issuance, and the first corporate to issue a 10-year bond this year."
"In the past three years, Ayala Land has proven its resilience, demonstrated that it is on a path to recovery, and is now in a solid position for renewed growth," he added.
The net proceeds of the offering will be used to partially fund ALI's capital expenditures (CapEx) and refinance short-term borrowings for the year, in line with its thrust to fortify its balance sheet and execute its recovery and growth plans.
"Throughout the years, Ayala Land has established its mark in the Philippines as one of the largest and most diversified real estate conglomerates,” Securities and Exchange Commission Chairman Emilio B. Aquino said.
He noted that “This extensive background of Ayala Land in the real estate industry is aligned with the “Build Better More” program of the 10-point agenda for economic renewal and long-term growth of the national government.”