Ayala Land Lists Tranche Two, Series One of its PhP 50-Billion Debt Securities Program in the PDEx Organized Secondary MarketPosted on: April 29, 2016
25 April 2016, Makati Philippines – The local debt market celebrated another addition to the set of listed corporate bonds of Ayala Land Inc. with the issuance and listing of its PhP 7 Billion 4.75% Fixed Rate ALI Bonds Due 2025. This 9.5-year bond is the second tranche of the fixed rate bond series covered under ALI’s PhP 50 Billion shelf registration.
This new listing places the outstanding listed issues of Ayala Land at PHP 66 Billion, representing 12% of the PHP 551.81 Billion of listed bonds. For the entire Ayala group, the total outstanding listed issues of PHP 128 Billion accounts for 23% of the overall outstanding listed corporate bonds.
Ayala Land Senior Vice President & CFO Jaime E. Ysmael remarked: “It’s good to be back after just a few weeks. This is a landmark transaction for us and we are quite happy to have raised the requirement in such a short span of time, at 2.5 times oversubscribed even. The execution timeline involved also sets a new benchmark for Philippine capital market issues as we understand this is effectively the first program listing for a shelf registration among Philippine corporates.”
PDS Group President and CEO Cesar B. Crisol said: “We are pleased to note how this back-to-back listing is proceeding even before the Philippine presidential elections, and we see this “business as confidence” attitude as an indicator that the current momentum of Philippine economic activity may just push growth forward regardless of politics, a positive note indeed.”
This fourth listing for the year brings the year-to-date total of new listings to PhP 19.5 Billion and the total level of tradable corporate debt instruments to PhP 551.81 billion issued by 36 companies, comprised of 104 securities.
The event was held at the PDS Group Assembly Hall and was graced by ALI Directors and Officers including President and CEO Bernard Vincent O. Dy, Senior Vice President and CFO Jaime E. Ysmael and Vice President and Treasurer Augusto D. Bengzon.
Representatives from the issue participants who attended the event are BPI Capital Corporation (BPIC) President and COO Reginaldo Anthony B. Cariaso, BPIC Managing Director Eric Roberto M. Luchangco, Bank of the Philippine Islands (BPIM) Executive Vice President Dennis G. Montecillo, BDO Capital & Investment Corporation (BDOC) President Eduardo B. Francisco, BDOC Senior Vice President Eleanor Hilado, China Bank Capital Corporation (CBC Cap) Managing Director and Treasurer Virgilio O. Chua, First Metro Investment Corporation (FMIC) President Rabboni Francis B. Arjonillo, FMIC Executive Vice President, Investment Banking Group Justino Juan R. Ocampo, PNB Capital (PNB Cap) and Investment Corporation Vice President Sabino B. De Leon II, and East West Banking Corporation (EWBC) Senior Executive Vice President & COO Jose Emmanuel U. Hilado. #