ALI Lists P15B Fixed-Rate Bonds

Ayala Land, Inc. (ALI) successfully listed its new P15-billion fixed-rate bonds due 2028 and 2033 at the Philippine Dealing and Exchange Corporation (PDEX). The bonds due in 2028 totaling P10.1 billion carry a coupon rate of 6.0253% per annum (p.a.), while the bonds due in 2033 amounting to P4.9 billion have a coupon rate of 6.2948% p.a.

“Today marks the second largest bond issuance of ALI, our largest 5-year issuance, and the first corporate to issue a 10-year bond this year,” said Augusto D. Bengzon, ALI CFO, Treasurer, and Chief Compliance Officer. “In the past three years, Ayala Land has proven its resilience, demonstrated that it is on a path to recovery, and is now in a solid position for renewed growth,” he added.

This P15 billion issuance was made possible by the unwavering support of its underwriters, investors, and regulators. The net proceeds of the offering will be used to partially fund ALI’s capital expenditures and refinance short-term borrowings for the year, in line with its thrust to fortify its balance sheet and execute its recovery and growth plans.

“Throughout the years, Ayala Land has established its mark in the Philippines as one of the largest and most diversified real estate conglomerates, engaged in a wide array of activities such as the development of sustainable estates, industrial estates, condominiums both for residential and office spaces, house and lots, commercial lots, shopping and working spaces, hotels and resorts, and warehouses and factory buildings. This extensive background of Ayala Land in the real estate industry is aligned with the Build Better More program of the 10-point agenda for economic renewal and long-term growth of the national government,” Securities and Exchange Commission Chairman Emilio B. Aquino said.

“The Securities and Exhange Commission is very hopeful that today’s listing of the Ayala Land’s Fixed Rate Bonds will further propel the development of the capital market towards the overall common goal of uplifting the nation’s economy,” Aquino added.

Philippine Dealing and Exchange Corp. President and CEO Antonio A. Nakpil congratulated ALI for this issuance and listing, citing how it helps strengthen the public debt market and sets an example that can be emulated by other firms already moving up to the next level of funding via bond issuances, whether public or through QIBs.

In the photo from top left are: Security Bank Corporation President and Chief Executive Officer (CEO) Sanjiv Vohra, BDO Unibank Inc. Senior Vice President (SVP) Maria Lourdes Donata C. Gonzales, First Metro Investment Corporation (FMIC) President Jose Patricio A. Dumlao, China Bank Capital Corporation Managing Director Michael L. Chong, China Banking Corporation Institutional Banking Segment Senior Relationship Manager Alfredo Manuel E. Moreno, Metropolitan Bank and Trust Company Institutional Banking Sector Head and FMIC Chairman Mary Mylene A. Caparas, Philippine Depository & Trust Corp. President and CEO Ma. Theresa B. Ravalo, BDO Capital & Investment Corporation President Eduardo V. Francisco, Ayala Land, Inc. (ALI) SVP, CFO, Treasurer and Chief Compliance Officer Augusto D. Bengzon, ALI Executive Vice President (EVP) and Chief Operating Officer Ana Maria Margarita B. Dy, Securities and Exchange Commission Chairman Emilio B. Aquino, Monetary Board Member Anita Linda R. Aquino, BPI Capital Corporation President Rhoda A. Huang, Philippine Dealing & Exchange Corp. President and CEO Antonino A. Nakpil, Bankers Association of the Phililppines (BAP) and Bank of the Philippine Islands (BPI) President Jose Teodoro K. Limcaoco, RCBC Capital Corporation First Vice President (FVP) Claudine C. del Rosario, Rizal Commercial Banking Corporation (RCBC) EVP and Corporate Banking Head Elizabeth E. Coronel, SB Capital Investment Corporation President Virgilio O. Chua, and RCBC Trust & Investments Group FVP and Head Robert Rol Richard Raymond B. Ramos.