Property giant Ayala Land Inc. (ALI) is considering a bond issue next year to partly finance its 2016 capital expenditures (capex), a senior official said on Wednesday, with the firm having secured the right to build and operate the P4-billion Integrated Transport System-South (ITS-South) project under the government’s public private partnership (PPP) scheme.
“[The ITS-South] is a terminal with a retail component. The funding plan is still being finalized, but normally … [it will both be] debt and equity, usually 50-50,” Jaime Ysmael, ALI senior vice president, told reporters at the sidelines of the Financial Executives of the Philippines’ annual CFO Awards.
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