Contact Us
Jun 28, 2020

ALI lists P10-billion 2-year fixed-rate bond on PDEx

29 June 2020 – Ayala Land Inc. (ALI) listed its P10-billion, 2-year fixed-rate bonds due 2022 with a coupon rate of 3.00% per annum on the Philippine Dealing and Exchange Corporation (PDEx), through its first virtually held listing ceremony on June 26.

The bond was strongly received and was 1.75x oversubscribed, enabling Ayala Land to increase the issue size from P6 billion to a total of P10 billion. ALI is the first non-bank corporate to issue fixed rate bonds in the local market since the country was placed under community quarantine.

“We are pleased with the reception for our two-year bond issuance. Our primary objective during the last three months was to ensure that we preserve value for Ayala Land and maintain financial sustainability. It was therefore imperative that we ensure that we have more than adequate liquidity to meet our obligations and that we manage our cost of funding during this period. We hope that our success will spur investor confidence and pave the way for the reopening of the local debt capital market,” said ALI President and CEO Bernard Vincent O. Dy.

“We are confident that as the economy continues to reopen, business will continue to pick up and we hope to resume our expansion program within the next few months,” he added.

BPI Capital Corporation, BDO Capital & Investment Corporation and Chinabank Capital Corporation are the joint lead underwriters for the issuance while PNB and Investment Corporation and SB Capital Investment Corporation are co-lead managers.

From left to right: Bernard Vincent O. Dy, ALI President & CEO; Augusto D. Bengzon, ALI CFO, Chief Compliance Officer and Treasurer; Eduardo V. Francisco, BDO Capital Corporation President; Antonino A. Nakpil, PDEX President & COO; Ephyro Luis B. Amatong, SEC Commissioner; Rhoda A. Huang, BPI Capital Corporation President; Ma. Theresa B. Ravalo, PDTC President & COO; and Ryan Martin L. Tapia, China Banking Capital Corporation President.

Connect with Us