Ayala Corporation Lists PhP 10 Billion Fixed Rate Bonds Due 2025 in PDExPosted on: February 10, 2017
10 February 2017, Makati Philippines – The local debt market welcomed the first corporate bond listing for 2017, Ayala Corporation’s (Ayala) PhP 10 Billion Fixed Rate Bonds due 2025. It is the second and final tranche of Ayala’s approved PhP 20 Billion shelf-registration program.
With this listing, Ayala’s total value of listed issues is now at PhP 50 Billion, representing 7.6% of the total value of corporate securities listed in PDEx. Combined, the Ayala group companies have PhP 158 Billion in listed issues, representing 24% of PDEx’s overall outstanding listed corporate securities.
The year-to-date total of new listings in PDEx now stands at PhP 13.375 Billion, bringing the total level of tradable corporate debt instruments to PhP 656.91 billion issued by 40 companies comprised of 114 securities.
In his welcome remarks, PDS Group President and CEO Cesar B. Crisol said: “It is heartwarming to note that since bond listings started in 2007, there has not been a single year without a bond listing from the Ayala Group. Not only do we appreciate such constant and consistent support, but this shared vision toward a developed capital market indeed energizes us.”
During the listing ceremony held last February 10, Ayala Chairman and CEO Jaime Augusto Zobel de Ayala said, “We are delighted to see that investor interest remained high with the issuance being 180 percent subscribed, and that 90% of the issuance was a significant support of retail investors.”
The event was held at the PDS Group Assembly Hall and was graced by Ayala Chairman and CEO Jaime Augusto Zobel de Ayala, Ayala Chief Finance Officer Jose Teodoro K. Limcaoco, and Ayala Treasurer Ma. Cecilia T. Cruzabra.
The issue participants were also present including Bank of the Philippine Islands President Cezar P. Consing, BPI Capital Corporation President and Co-Head Juan Carlos L. Syquia, China Bank Capital Corporation Managing Director and Investment Banking Group Head Virgilio O. Chua, PNB Capital and Investment Corporation President and CEO Gerry B. Valenciano, BDO Capital & Investment Corporation President Eduardo V. Francisco, East West Banking Corporation EVP and COO Jose Emmanuel U. Hilado, and First Metro Investment Corporation President Rabboni Francis B. Arjonillo.#