Ayala Land, Inc. on Monday listed P15 billion in fixed-rate bonds due 2028 and 2033 at the Philippine Dealing and Exchange Corp.
The bonds due in 2028 total P10.1 billion has a coupon rate of 6.0253 percent while bonds due in 2033 totaling P4.9 billion have a coupon rate of 6.2948 percent.
“Today 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,” Augusto D. Bengzon, Ayala Land chief finance, treasurer and chief compliance officer, said.
Proceeds from the offering will partially fund capital expenditures and refinance short-term borrowings.
“The Securities and Exchange Commission is very hopeful that today’s listing of the Ayala Land’s fixed rate bonds will further propel the development of the capital market towards the overall common goal of uplifting the nation’s economy,” SEC chairman Emilio B. Aquino said.
Philippine Dealing and Exchange Corp. president and CEO Antonio A. Nakpil said the listing helps strengthen the domestic debt market and sets an example that may be emulated by others already moving up to the next level of funding via bond issuances.
