Ayala Corp. said it looks to raise P15 billion through the bond market.
The conglomerate said it has filed for regulatory approval of the bond sale that is divided into an initial P10 billion and another P5 billion for the oversubscription option, which will have tenors of three years, five year, and seven years.
Ayala said bond sale forms part of the P30 billion shelf-registered debt securities program of the group approved by the Securities and Exchange Commission in May last year.
Ayala said the bonds was assigned a PRS Aaa rating by the Philippine Rating Services Corp. (PhilRatings).
“Obligations rated as PRS Aaa are of the highest quality with minimal credit risk. A PRS Aaa rating likewise signifies that Ayala’s capacity as an obligor to meet its financial commitment vis-í -vis the obligation is extremely strong,” it said.
Filinvest Land Inc. meanwhile said it is also looking to raise as much as P11.9 billion through the bond market with tenors of three years and five years.
The bond sale is the third tranche of the P30 billion shelf-registered bond program of the Gotianun-affiliated developer approved by the SEC in 2020.
The company issued the first tranche in November 2020, and the second tranche in December last year.
