Ayala Corp., a diversified investment holding company, said Friday it will redeem next month P4 billion worth of three-year bonds.
The bonds carry an interest rate of 3.026 percent and will mature on 28 May. Bond holders on record 24 May are entitled to join the exercise.
Ayala, whose business interests include banking, renewable energy, property development, said the bonds will be redeemed by payment in cash of the bonds’ face value plus accrued interest.
The bonds to be redeemed are part of the multi-tranche issue in 2021, whose proceeds were used to repay debt and for capital expenditures.
