Ayala Land raises P8B from high-yield retail bonds

/ 05:10 AM May 07, 2019

Property giant Ayala Land Inc. (ALI) has completed a fresh fundraising activity, bringing in P8 billion from the issuance of retail bonds.

The seven-year bonds due 2026 were priced to yield 6.369 percent per annum. They were listed on local fixed income platform Philippine Dealing and Exchange Corp. (PDEx) on Monday.


The joint lead underwriters and bookrunners were BDO Capital & Investment Corp., BPI Capital Corp., China Banking Corp., East West Banking Corp., First Metro Investment Corp., ING Bank, PNB Capital and Investment Corp. and SB Capital Investment Corp.

This latest bond listing on PDEx brought the year-to-date listing volume to P124.82 billion.

There are now P1.14 trillion outstanding securities from 49 issuers listed on this platform.

Ayala Land’s latest bonds carried a credit rating of “PRS Aaa” with a “stable” outlook from local credit watchdog Philippine Rating Services Corp. (PhilRatings).

Debt papers rated PRS Aaa, the highest rating in PhilRatings’ scale, are deemed of the “highest quality with minimal credit risk” and the borrower’s capacity to meet its financial commitment on the obligation is “extremely strong.”

The issuance is the last tranche of ALI’s three-year debt securities program totaling P50 billion.

Proceeds from the proposed bond issuance will mainly be used to partially finance the construction of: Seda Hotels Bay Area in Parañaque, Ayala Malls Capitol Central in Bacolod, the Cebu Central Bloc mixed-use complex, expansion of Seda Hotels BGC, leasing projects in Arca South and the Taguig Integrated Terminal Exchange, Bacolod Capitol Corporate Center and the Vertis North Corporate Center Tower 3.

Read Next
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Ayala Land, Business
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2019 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.