Ayala Land,Inc. lists PhP 8 billion ALI Fixed Rate Bonds due 2025 on PDExPosted on: April 28, 2014
Makati, Philippines, 25 April 2014, Friday – Ayala Land, Inc. (ALI) listed PhP 8 billion ALI Fixed Rate Bonds due 2025 in the Philippine Dealing & Exchange Corp., its fifth time since the public market opened in 2008. This brings ALI’s total bonds listed on PDEx to PhP 44 Billion, making it the Issuer with the largest outstanding listed amount on PDEx.
The PDEx organized market also welcomed ALI’s new President and CEO Bernard Vincent Dy who remarked, “We thank everyone who made this issue a success. Moving forward, we will raise the balance of our debt capital market program for the year and look forward to everyone’s continuing support. Mr. Dy also said that “Ayala Land subsidiary Cebu Holdings is looking to raise PhP 5.0 billion from the bond market next month.”
An Ayala Land listing is one of the market events that the Market Participants and Investors eagerly anticipate because aside from being the Philippines’ leading real estate developer and a strong partner in nation-building, ALI always provides a ground-breaking investment option. One is the very first 20-Year Corporate Bond issued in 2013 which is still the longest-tenor corporate bond listed in the organized market.
Investor interest in ALI is supported not only by its exceptional contribution to the development of the Philippine capital market but also by its financial performance; Ayala Land’s profit increased 29% to PhP 14.305 billion last year from PhP 11.076 billion in 2012, while net income attributable to controlling shareholders rose 30% to a record PhP 11.74 billion from PhP 9.04 billion. Revenues also increased 36% year on year to PhP 81.52 billion.
PDEx Chairman & CEO Cesar B. Crisol said, “We hope to continue to count on ALI’s commitment in tapping the debt market to finance its expansion program. As ALI pushes the level of its fixed income issuances, we at the Exchange shall likewise redouble our effort in providing you with reliable and flexible platforms for your bondholders to conveniently and securely trade your bonds.”
ALI’s listed security, which carries a coupon rate of 5.6250% per annum, is the first tranche of a PhP15 Billion total offering that will partially finance a number of mall, BPO and hotel projects. The Bonds have been rated PRS Aaa by the Philippine Rating Services Corporation (“PhilRatings”). It is the highest rating assigned by PhilRatings. Obligations rated PRS Aaa are of the highest quality with minimal credit risk and reflect the obligor’s extremely strong capacity to meet its financial commitment. #