Ayala Land lists P10-B bonds

AYALA Land, Inc. (ALI) has listed its P10billion fixed-rate bonds at the Philippine Dealing and Exchange Corp. on June 26 in a move that it hopes will help boost the local bond market.

The two-year bonds have a coupon rate of 3% yearly with an issue size of P6 billion and an oversubscription option of P4 billion. They are due in 2022.

The listed real estate developer said these were “strongly received,” being oversubscribed 1.75 times, which led it to raise the size to P10 billion. —