ADVERTISEMENT
Manila Bulletin devider Business devider The Stock Market devider SEC approves ALI's ₱15-billion green bonds offering

SEC approves ALI's ₱15-billion green bonds offering

Published Oct 10, 2025 11:03 am  |  Updated Oct 10, 2025 01:05 pm
The Securities and Exchange Commission (SEC) has approved the planned offering by real estate giant Ayala Land Inc. (ALI) of Association of Southeast Asian Nations (ASEAN) sustainability-linked bonds to raise up to ₱15 billion for the payment of debt and funding of capital expenditures (capex).
The planned offering consists of the principal amount of ₱10 billion, with an oversubscription option of up to ₱5 billion, comprising 6.0671-percent per annum (p.a.) series C bonds due 2030 and 6.3192-percent p.a. series D bonds due 2035.
This represents the fourth tranche of the company’s existing ₱50-billion shelf registration for the offering and sale of debt securities in one or more tranches approved by the SEC on June 13, 2023.
Under the said 2023 program, fixed-rate bonds with a principal amount of ₱10.25 billion were issued as the first tranche on June 26, 2023. Sustainability-linked bonds amounting to ₱6 billion were issued as the second tranche on July 18, 2024. Another batch of sustainability-linked bonds worth ₱8 billion were issued as the third tranche on Nov. 13, 2024.
If all ₱15-billion bonds are subscribed, ALI plans to use the proceeds of ₱5.16 billion to refinance the short-term loan of ₱6.11 billion due on Oct. 10, 2025, to Metropolitan Bank & Trust Co. (Metrobank). The balance of the loan will be settled from internally generated funds or other credit facilities.
ALI will also allocate ₱3.54 billion to refinance the ₱5-billion short-term loan obtained from the Bank of the Philippine Islands (BPI) that was used to partially fund the settlement of its ₱6.25-billion fixed-rate bonds issued in 2020, which matured on Sept. 29, 2025.
The remaining balance of the loan and the bonds will be settled by ALI using internally generated funds or other credit facilities.
Meanwhile, ₱6.12 billion will be used to fund capex, including its 49-percent share in the BPI headquarters (HQ) redevelopment (₱1.59 billion), land acquisition (₱3.13 billion), Greenbelt 1 redevelopment (₱0.72 billion), and construction of Ayala Malls Evo City (₱680 million).
Philippine Rating Services Corp. (PhilRatings) has assigned the highest issue credit rating of PRS Aaa, with a stable outlook, to ALI’s proposed third sustainability-linked bonds amounting to ₱10 billion, with an oversubscription option of up to ₱5 billion.
PhilRatings said it also maintained its issue credit rating of PRS Aaa, with a stable outlook, for ALI’s ₱104.25-billion outstanding bonds.
In arriving at its credit rating and outlook for ALI’s issuance, PhilRatings said it considered the firm’s well-diversified portfolio, complemented by strong brand equity, as well as its solid portfolio expansion strategies, backed by its experienced management team and synergies with parent company Ayala Corp.
Also factored in is ALI’s sustained commitment to sustainability, robust earnings and healthy cash flows driven by the positive performance of its real estate and leasing portfolio, and its conservative capital structure.

Related Tags

Securities and Exchange Commission Ayala Land Inc. Philippine Rating Services Corporation
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.