CONGLOMERATE Ayala Corp. has debuted a US dollar-denominated fixed-for-life senior perpetual issuance worth $400 million at an annual coupon of 5.125 percent, fixed until maturity date.
The issuance was made through Ayala Corp.’s wholly-owned subsidiary AYC Finance Limited. It is the first corporate fixed-for-life issuance with no coupon step-up in Southeast Asia and the first fixed-for-life note with no step-up (and reset) deal in the Philippines.
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