Ayala Land approves P45-B debt refinancing

AYALALAND Inc. (ALI) announced that its board of directors approved both the RAISING OF DEBT FUNDS FOR LOAN REFINANCING AND THE FILING WITH THE SECURITIES AND EXCHANGE COMMISSION FOR THE NEW THREE-YEAR SHELF registration.

In a disclosure to the stock exchange during that period, the listed property developer said its board of directors approved the plan in order to raise funds through a combination of retail bonds, qualified buyer notes and bilateral term loans.

ALI said it is planning raise debt capital funds worth up to P45 billion in order to partially finance general corporate requirements and refinance maturing debt through the issuance of another set of retail bonds and corporate notes for listing on the Philippine Dealing and Exchange Corp.