Ayala Corporation Raises PHP 10 Billion Fixed Rate Bonds on PDExPosted on: May 28, 2021
28 May 2021, Makati, Philippines — Ayala Corporation (AC) returns to the local debt market today where they have listed their PHP 10 Billion 3 and 5 years Series A and B Fixed Rate Bonds at 3.0260% and 3.7874% per annum, respectively, to be paid quarterly.
Notably, AC is the second issuer to utilize the e-Securities Issue Portal (e-SIP) in its pre-issuance activities following its subsidiary, Ayala Land Inc. who pioneered e-SIP’s utilization earlier this month.
The ceremony began with PDEx president and CEO Antonino A. Nakpil delivering his welcome remarks.”We note that this tranche is the first from AC’s PHP 30 Billion debt securities program, but that is nothing surprising and merely standard practice for a veteran of Shelf-Issue programs. We do hope however that the e-SIP helped ease pain points in this round of issuance.” said Mr. Nakpil.
Mr. Nakpil also acknowledged the SEC and DOF. “We take this opportunity to thank the SEC and DOF for their support and strong encouragement for the PDS Group to continue with this portal and other inclusion through digitization initiatives.”, added Mr. Nakpil.
This listing ceremony was also graced by the Chairman of the Securities and Exchange Commission, Hon. Emilio B. Aquino through a recorded message. Hon. Aquino said: “Allow me to take this opportunity to thank issuers like Ayala Corporation for playing an important role in realizing the capital market’s potential to sustain our economy’s expansion and bringing growth to every Filipino. As issuers, you created legitimate investment opportunities, and through the capital market, you make them accessible and thereby allow our fellow Filipinos to share with your business success.”
“And by pursuing your expansion projects responsibly and sustainably, more of our fellow Filipinos can be employed and will be able to provide for and secure a better future for their families.”, added Hon. Aquino.
Meanwhile, Ayala Corporation President and CEO Fernando Zobel de Ayala said: “The Ayala Group, specifically Ayala Land and Ayala Corporation are proud pioneers in utilizing the e-SIP system which allows primary market issuers like Ayala to do away with voluminous paper-based submissions to the PDS registry and PDEx and expand our reach by selling securities online.”
This 8th listing for 2021 brings the year-to-date total of new listings to PHP 80.24 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.41 Trillion issued by 54 companies, comprised of 201 securities.