Ayala Land chief finance officer Augusto Bengzon in a press briefing said the fresh bond shelf registration program would replenish its bond shelf registration program approved by SEC in 2019, which only has P12.75 billion worth of bonds unissued.
Ayala Land this year plans to raise up to P41 billion through the issuance of retail bonds or corporate notes for listing on Philippine Dealing & Exchange Corp..
Bengzon said the company would use proceeds from the planned borrowings to refinance high-interest rate loans.
“We are actively pre terminating high cost debts and replace it with lower cost debts to take advantage of low interest rate environment,” Bengzon said.
Bengzon said the company initially planned to offer P6.25 billion worth of four-year bonds over the next few months.
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.