AYALA LAND, Inc. Plans to Offer PHP 10 Billion Fixed-Rate Bonds Due in 2025
March 15, 2021 at 01:21 am EDT
Share
AYALA LAND, Inc. announced that it has plans to offer nearly PHP 10-billion fixed-rate bonds and raise funds for the early redemption of certain bonds issued by the real estate firm. The offering is under the sixth tranche of ALI's shelf-registered PHP 50-billion securities program. It is expected to raise PHP 9.88 billion, net of fees, commissions, and expenses incurred for bond issuance. Net proceeds from the offering will be used to pay off the company's short-term loans used to fund the early redemption of ALI's P8-billion fixed-rate bonds due 2025, which were issued in 2014 with an annual interest rate of 5.625%. Bonds will be issued at a minimum of PHP 50,000 each and in multiples of PHP 10,000 thereafter.
Ayala Land, Inc. is a Philippines-based property developer. The Company is focused on developing integrated and mixed-use real estates. The Company operates through eight segments: Property Development, International Business, Shopping Centers, Offices, Hotels and Resorts, Construction, Property management, and Others. The Company has developed properties in the Makati CBD, Ayala Alabartg, Cebu Park District, Bonifacio Global City, and others. It has approximately 12,000 land, and 49 developed estates. The Company offers diverse portfolio of complementary businesses primarily in the development of residential, office, commercial, and industrial properties for sale, as well as commercial leasing through shopping centers, offices, hotels, resorts, factory buildings, warehouses, co-living, and co-working spaces. Its brands include Ayalaland Premier, Alveo, Avida, Amaia, and BellaVita. The Company's subsidiaries include Alveo Land Corporation, Serendra, Inc., and others.
AYALA LAND, INC. 
