Ayala Land, Inc. Returns to PDEx with Php 6.25 Billion 5-Year Fixed Rate BondsPosted on: September 29, 2020
29 September 2020, Makati, Philippines — Ayala Land, Inc. (ALI) raises PHP 6.25 Billion Fixed Rate Bonds Due 2025 on the Philippine Dealing & Exchange Corp. (PDEx), the fifth tranche of ALI’s PHP 50 Billion Program. The bonds were priced at 3.862% per annum, with interest to be paid on a quarterly basis.
PDEx President and Chief Executive Officer Antonino A. Nakpil said, “We are pleased to welcome a frequent Issuer, Ayala Land, Inc., back to list this PHP 6.25 Billion 5-Year Fixed Rate Bond. This is ALI’s second virtual listing for the year, proving that not even a quarantine can hinder our pioneer and most prolific.”
“In between these funding exercises, ALI was listing the first Real Estate Investment Trust issuance and launching that long-awaited new instrument in the equity market. A busy body indeed across both asset classes of the capital market, kudos,” added Mr. Nakpil.
For his part, ALI Chief Finance Officer, Chief Compliance Officer, and Treasurer Augusto D. Bengzon remarked, “This new bond would help us in lengthening our debt maturities and manage our cost of funding to a reasonable level during this period.”
“This event ensures the financial sustainability of ALI which, in turn, allows us to continue to take care of our workforce, provide our products and services to our customers, making certain that we are responsive to the communities that we serve; all of which provide a strong foundation towards a solid recovery by 2021,” added Mr. Bengzon.
This 26th listing for 2020 brings the year-to-date total of new listings to PHP 302.83 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.48 Trillion issued by 55 companies, comprised of 203 securities.