Ayala Land Inc. eyes to raise P10 billion through a bond issuance, divided into an initial P6 billion and another P4 billion covering the oversubscription option.
The issuance is the fourth tranche in the company’s P50-billion shelf registered bond offer and will be listed with the Philippine Dealing & Exchange Corp.
The fixed-rate bonds shall be offered to the public at face value through joint lead underwriters and bookrunners, BDO Capital and Investment Corp., BPI Capital Corp. and China Bank Capital Corp.
Ayala Land expects to net P9.87 from the offer, assuming the full exercise of the oversubscription option, which will be used to partially finance its general corporate requirements and capital expenditure requirements, particularly for its leasing business.
