Ayala Land, Inc. plans to raise P8 billion by issuing fixed rate retail bonds with a maturity of five years and to be listed at the bond exchange, the company told the stock exchange on Friday, Aug. 17.
The bonds represent the remaining unissued balance of its P50-billion debt securities program as approved by the Securities and Exchange Commission (SEC) in March 2016, it added.
The company did not say when it plans to issue the bonds or the target listing at the Philippine Dealing and Exchange Corp.
It said the debt issuance was approved by its board of directors on Friday afternoon during their regular meeting.
On Friday, shares in Ayala Land rose 2.66% to close by P1.10 at P42.50 each. — Victor V. Saulon

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