By James A. Loyola
The Ayala group of companies has listed a total of P203.13 billion worth of bonds this year, making up about 20 percent of the Philippine bond market today.
Last December 7, Bank of the Philippine Islands listed bonds amounting to P25 billion — the largest single bond issue ever to be listed in the Philippine Dealing & Exchange Corporation (PDEx).
The BPI bonds brought the total local peso bond market size to the trillion-peso level.
“Today’s trillion-peso bond market is the result of many factors – a vibrant economy, an innovative private sector, and a commitment by the government sector to enhance the enabling environment,” said Securities and Exchange Commission (SEC) Associate Commissioner Ephyro Luis Amatong.
According to PDEx, the Ayala group has been a pioneer in the Issuer Community since the exchange started in 2008, when Ayala Corporation and Ayala Land listed a combined P10 billion worth of bonds.
Since then, the Ayala group has consistently tapped the debt market to support the aggressive growth strategy of its various businesses in real estate, banking, telecommunications, water, and power.
In the last five years alone, Ayala has invested a cumulative group-wide total of P748.3 billion in capital expenditures to fund investments largely in Ayala Land and Globe Telecom, including new ventures in energy, industrial technologies, infrastructure, healthcare, and education.
Ayala Corporation Chairman & CEO Jaime Augusto Zobel de Ayala strongly believes that the Philippine economy is ripe for investments.
“Ayala has been a beneficiary of the country’s significant economic growth. This has served as a catalyst for us to unlock many opportunities and push us to develop new ideas to incubate new businesses, and to explore prospects for disruptive innovation,” Zobel said.