Property Giant Ayala Land plans on raising P7 billion by issuing fixed-rate bonds. This will form the second tranche of its P50 billion debt securities program. Net proceeds is expected to reach P6.93 billion and is intended to finance the company’s capital expenditure and general corporate requirements.
The bonds will be due in 2025. The prospectus reveals that the offer is “conducted exclusively in the Philippines and pursuant to requirements under Philippine laws, rules and regulations that may be different from those of other countries and jurisdictions.” BDO Capital and Investment Corp., China Bank Capital Corp., BPI Capital Corp., and First Metro Investment Corp. has been mandated to act as joint lead bookrunners and underwriters.
