ALI lists P12-B bonds on PDEx

Published May 15, 2022, 7:00 PM

by James A. Loyola

Real estate giant Ayala Land, Inc. (ALI) has listed its P12-billion fixed-rate bonds due 2028 on the Philippine Dealing & Exchange Corp. (PDEx) after the offering was oversubscribed five times with orders amounting to P60 billion.

This 6-year bond is the biggest bond issuance of ALI in the past eight years and the second-largest issuance in the company’s history. The bonds carry an interest rate of 5.8086 percent per annum, to be paid quarterly.


“This solid market reception led to pricing at the tight end of the spread range, manifesting the retail and institutional investors’ unwavering trust and confidence in Ayala Land’s credit and resilience,” ALI Deputy Treasurer Jose Emilio Jamir said.

Net proceeds from the issuance will be used for refinancing and general corporate requirements.

“Ayala Land continues to show its resiliency and cement its impact in our communities. With Ayala Land’s stellar track record, the SEC is very optimistic that the additional funding from this offering would add value to and increase enthusiasm in our capital markets,” Securities and Exchange Commissioner Kelvin Lester Lee said.

Philippine Dealing and Exchange Corp. President and CEO Antonio A. Nakpil commended ALI for pioneering the use of the Electronic Securities Issue Portal in 2021, after which nine other issuers followed suit.

This resulted in more efficient transactions through the electronic facilities, as well as reduction of use of resources and storage cost.

“We hope that translation of green motherhood statements from mantras to actual numbers puts more value into the engraved crystal plaque you, the pilot issuer, received at last month’s PDS awards. Your lead had real impact,” Nakpil said.

ALI’s P12 billion listing brings the year-to-date total of new listings on PDEx to P216.46 billion, surpassing 2021’s total annual level of P213.45 billion.