Property giant Ayala Land Inc. (ALI) is poised to return to the local bond market soon and seek P50 billion in fresh bond shelf registration to support refinancing activities and take advantage of the slowdown in local interest rates.
At a press briefing on Wednesday, ALI chief financial officer Augusto Bengzon said the property developer would soon launch a four-year bond offering, with a target to raise P6.25 billion.
“And we are going to refresh our shelf registration. We are going for another P50 billion to refresh our shelf,” Bengzon said.
Under the Securities and Exchange Commission’s shelf registration window, securities may be registered for an offering to be made on a c…
Keep on reading: Ayala Land sets return to bond market