Ayala Land Inc. now has a combined P120.3 billion in bonds that are traded in the secondary market, representing 8.9 percent of the total outstanding listed corporate bonds on Philippine Dealing Exchange Corp. (PDEx).
This follows after the company early this week listed its P33 billion bonds issued in two tranches, an initial P12 billion and another P11 billion.
The bonds carry a tenor of two, five, six, and seven years, with coupons of 4.3969 percent for the bonds due 2024, 6.2110 percent for the bonds due 2027, 5.8086 percent for the bonds due 2028, and 6.8045 percent for the bonds due 2029.
The six-year bond, due 2028 was listed in May. The rest was listed this week.
“With this latest bond offer, we raised P45 billion in debt capital, representing a 90 percent utilization rate of our P50 billion shelf registration in less than a year,” said Jose Emilio Jamir, Ayala Land deputy treasurer.
“These twin offerings used the same set of financials which allowed for quicker execution,” Jamir added.
The proceeds of the offering will be used for refinancing, funding general corporate requirements, and capital expenditures for upcoming real estate projects. – Ruelle Castro
