Ayala Corp. has tapped a syndicate of investment banks to facilitate the possible sale of corporate notes.
The company said it has given mandate to BPI Capital Corp., Citigroup Global Markets Singapore Pte. Ltd., Credit Suisse (Singapore) Limited, J.P. Morgan (S.E.A.) Ltd., Mizuho Securities (Singapore) Pte. Ltd. and UBS AG Singapore Branch “to arrange a series of fixed income investor calls” Tuesday for the offer of dollar-denominated senior fixed-for-life (non-deferrable) perpetual notes to investors outside the US, “subject to market conditions.”
The notes will be issued by Ayala unit AYC Finance Limited and will be “unconditionally and irrevocably guaranteed” by the company.
The proceeds of the corporate notes will be used to refinance a number of dollar-denominated notes the company earlier issued.
