Ayalas to issue P8B worth of retail bonds
Property giant Ayala Land Inc. is raising of up to P8 billion through the issuance of five-year fixed-rate retail bonds.
In a filing with regulators, ALI said the P8 billion bonds represent the remaining unissued balance of the company?s P50 billion debt securitization program as approved by the Securities and Exchange Commission in March 2016.
The bonds will be listed on the the Philippine Dealing and Exchange Corp.
Proceeds from the issuance will be used to partially finance various projects in Aseana City in Para?aque, City Gate in Makati, Cloverleaf Mall and Vertis Mall, both in Quezon City; as well as the redevelopment of the northern portion of the Ayala Triangle Gardens in Makati.