The offer includes a P10-billion base issue with an oversubscription option of up to P5 billion under its P50-billion shelf registration with the Securities and Exchange Commission.
The dual-tranche issue consists of five-year bonds due 2030 with a 6.0671 percent coupon and ten-year bonds due 2035 at 6.3192 percent.
Bond listing on Oct. 23
The offer period runs from Oct. 9-15, 2025, with the issue date set for Oct. 23, 2025, pending regulatory and underwriter approvals.
Ayala Land appointed BDO Capital, BPI Capital, China Bank Capital, EastWest Capital, First Metro, PNB Capital, RCBC Capital, and SB Capital as joint lead underwriters and bookrunners, with Land Bank as selling agent and Metrobank Trust Banking Group as trustee.
Funding growth, refinancing
Ayala Land detailed how it plans to allocate proceeds from the bond sale, balancing project spending and debt management.
• P6.12 billion for capital expenditures, including key property projects.
• Funds will cover the 45-storey BPI headquarters redevelopment in Makati.
• Part will support the Greenbelt 1 mall revamp and Ayala Malls Evo City in Cavite.
• P3.76 billion allocated to refinance short-term loans from earlier bond redemptions.
• Total allocations could reach P14.82 billion if the oversubscription option is fully exercised, with extra funds for debt repayment and refinancing.
—Edited by Miguel R. Camus
