Ayala Land Inc. (ALI) has started its P15-billion sustainability-linked bond offer as it gears up to expand its portfolio.
The Zobel family-led real estate giant disclosed on Friday that the Securities and Exchange Commission had approved the issuance.
The offer will consist of a principal amount of P10 billion. It comes with an oversubscription option of up to P5 billion in case of high demand.
It will consist of Series C bonds due 2030 at a rate of 6.0671 percent per year. There are also Series D bonds due 2035 at 6.3192 percent.
The offer period will end on Oct. 15, with listing scheduled on Oct. 23.
This represents the fourth tranche of ALI’s P50-billion shelf registration approved in 2023. It raised P10.25 billion in June 2023, another P6 billion in July 2024 ane P8 billion in November last year.
ALI president and CEO Anna Ma. Margarita Bautista-Dy earlier confirmed they would launch 21 projects worth P57 billion in the second semester.
Roughly two-thirds of these will be in the premium market under AyalaLand Premier and Alveo Land. This is in recognition that the segment still performs better than its core markets, or those in the middle-income segment. /rwd