MANILA, Philippines – Real estate firm Ayala Land is expecting to raise between P10 billion and P15 billion in its latest bond offering.
On Monday, April 16, it started to offer its 7- and 10-year bonds at 5.625% and 6% coupon rates, respectively.
The offer period runs until April 23 and will be issued on April 27.
The Ayala group Corp. had earlier said it will be pumping up capital expenditure this year by 38% to a record P91 billion. The majority of the planned funds will go to investments into real estate, nework modernization, their water business and acquistions.
Earlier, Ayala Corp treasurer Ramon Opulencia said proceeds of the bonds will be earmarked for “additional working capital for new investments and prepayment of debt.” . – Rappler.com