Ayala Land, Inc. Lists PHP 33 Billion Fixed Rate Bonds on PDExPosted on: July 13, 2022
04 July 2022, Makati, Philippines — Ayala Land Inc. (ALI) returns to the local debt capital market with the issuance and listing of its PHP 33 Billion Fixed Rate Bonds Due 2024, Fixed Rate Bonds Due 2027, and Fixed Rate Bonds Due 2029 on the Philippine Dealing & Exchange Corp. (PDEx), the company’s largest issuance to date. The bonds were priced at 4.3969% p.a., 6.2110% p.a., and 6.8045% p.a., respectively, to be paid on a quarterly basis.
PDEx President and CEO Mr. Antonino A. Nakpil was delighted to welcome ALI back this time for a live listing ceremony. He remarked: “It is always a pleasure to welcome back Ayala Land, Inc., this time for its second listing this year and multiple issuances and listings by ALI are a surefire sign that pre-health crisis corporate activity is back. To highlight this return to normalcy further, ALI is today listing their largest issuance to date of PHP 33 Billion worth of 2, 5 and 7-year bonds, reaffirming their position as one of the pre-eminent corporate bond issuers and supporters of the public debt capital market.”
Commissioner Kelvin Lester K. Lee of the Securities and Exchange Commission was also present in the event and mentioned how ALI’s strategic financial stance and confidence as an issuer paid off in today’s successful issuance despite of the relatively difficult outlook of the global economy.
“This PHP 33 Billion peso offering of Ayala Land just showcases its continued confidence in the trajectory of the Philippine economy despite the somewhat challenging global economic outlook. The proceeds are intended to be used for refinancing and funding general corporate requirements, including capital expenditures for upcoming real estate projects. This shows Ayala Land’s optimism in the future,” said Commissioner Lee.
For his message, ALI Deputy Treasurer Jose Emilio B. Jamir stated: “As we look back over the last 2.5 years, we take comfort in how our underwriters, investors and regulators have been extremely supportive of our funding requirements which has allowed us to fortify our balance sheet and invest in much needed CAPEX. In 2020, it only took us 101 days to issue the first bond during the pandemic lockdown. And today, we return to the local debt capital markets with the Company’s largest ever issuance.”
This 16th admission for 2022 brings the year-to-date total of new listings to PHP 288.62 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.35 Trillion issued by 53 companies, comprised of 193 securities.