Ayala Land, Inc. Raises 3 Billion Fixed Rate Bonds on PDExPosted on: October 26, 2021
26 October 2021, Makati, Philippines — Ayala Land Inc. (ALI) becomes the first two-time user of e-SIP as they returned to the local debt market today where they have listed their PHP 3 Billion Fixed Rate Bonds Due 2031. Five months ago, ALI also pioneered the utilization of e-SIP, paving the way for other issuers to follow suit. The bonds carry an interest rate of 4.0776% per annum to be paid quarterly.
PDEx President and CEO Antonino A. Nakpil happily welcomed ALI back to list their bonds. He said: “While this year’s pace of new listings is slower than the past two years, it decidedly feels more normal when ALI comes back for a second listing. A listing year just won’t be complete without that indicator from the most prolific issuer in the community.”
For his message, ALI Deputy Treasurer Jose Emilio B. Jamir stated “This issuance will bring us closer to concluding our PHP 50 billion debt refinancing program, the largest ever, as we continue to bring down our cost of debt and lengthen our maturities.”
Mr. Jamir also referenced his passion for biking and said: “These endeavors have been made possible through our equal access of both the debt capital and the bank financing markets. These two wheels, so to speak, have been an important part of our funding toolkit, essential in meeting our financial sustainability objectives. Accordingly, this approach enabled us to diversify our funding sources and allowed us to tap the bond investors directly.”
This 17th listing for 2021 brings the year-to-date total of new listings to PHP 175.99 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.35 Trillion issued by 54 companies, comprised of 195 securities.