Ayala Land, Inc. Plans to Issue Up to PHP 19 Billion Bonds to Refinance Debt
May 27, 2020 at 09:15 pm EDT
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Ayala Land, Inc. is planning to issue bonds that will raise up to PHP 19 billion that it will use to refinance outstanding debt obligations. In a disclosure to the stock exchange the property developer said its board of directors had approved offering retail bonds and/or corporate notes that will be listed on the Philippine Deal and Exchange Corp., and/or issuing bilateral term loans. It said proceeds from the offering are to be used to refinance the company’s outstanding loans. ALI’s total borrowings as of end-2019 is PHP 211.1 billion, up from PHP 187.1 billion in end-2018.
Ayala Land, Inc. is a Philippines-based property developer. The Company is focused on developing integrated and mixed-use real estates. The Company operates through eight segments: Property Development, International Business, Shopping Centers, Offices, Hotels and Resorts, Construction, Property management, and Others. The Company has developed properties in the Makati CBD, Ayala Alabartg, Cebu Park District, Bonifacio Global City, and others. It has approximately 12,000 land, and 49 developed estates. The Company offers diverse portfolio of complementary businesses primarily in the development of residential, office, commercial, and industrial properties for sale, as well as commercial leasing through shopping centers, offices, hotels, resorts, factory buildings, warehouses, co-living, and co-working spaces. Its brands include Ayalaland Premier, Alveo, Avida, Amaia, and BellaVita. The Company's subsidiaries include Alveo Land Corporation, Serendra, Inc., and others.
AYALA LAND, INC. 
