ALI raises P6 billion from latest bonds issuance


Property giant Ayala Land Inc. (ALI) issued on Thursday P4-billion worth of bonds due on 2020 and P2 billion of bonds due on 2033.

“Ayala Land will cap yet another banner year as it lists an aggregate P21 billion: the initial 10-year tranche of P15 billion in July, which has the distinction of being the single largest corporate issue for the 10-year tenor, followed by the P6-billion tranche today, which includes a P2-billion 20-year issue, the longest for any domestic corporate issuer to date,” said Jaime Ysmael, ALI senior vice president and chief finance officer, during the listing ceremony for the bonds.

The P4-billion worth of bonds due on 2020 and P2 billion of bonds due on 2033 were simulta-neously listed at the Philippine Dealing and Exchange Corp. (PDEx) on Thursday, and will carry coupon rates of 4.62 percent and 6 percent, respectively. The PDEx approved the listing of the bonds on October 7, 2013.

BDO Capital Corp., BDO Capital and Investment Corporation and First Metro Investment Corp. were the joint lead underwriters and bookrunners.

Local debt watcher Philippine Rating Services Corp. earlier gave the highest credit grade for the P15-billion bonds ALI issued in the previous year.

In July, ALI launched the offering of 10-year retail bonds carrying a coupon rate of 5 percent a year, eyeing proceeds of P15 billion, its biggest debt issuance for a single tenor to date.


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