Augusto D. Bengzon, Ayala Land chief finance officer, said as much as 60 percent of the borrowings, or about P33 billion, will come from sustainability-linked financing, where the loan terms are tied to environmental or social objectives.
Bengzon said these will be split between a multilateral agency and the capital markets.
The remaining 40 percent, or P22 billion, will be sourced from bilateral credit facilities with partner banks.
“We do have a very busy year ahead of us,” Bengzon said during a media briefing after the company’s annual meeting on Thursday.
Where will the proceeds be used?
Bengzon said around P25 billion will be used to refinance maturing debts, while the remaining P30 billion will be used for capital expenditures and investment for 2025.
The builder earlier budgeted P95 billion in capital spending for the year, helping Ayala Land grow faster as it targets to expand earnings at twice the pace of the Philippine economy.
Ayala Land ramps up sustainability loans
Last year, Ayala Land raised P32 billion via debt deals.
This included P14 billion in 10-year bonds listed on the Philippine Dealing and Exchange Corp., a P14.5 billion 8-year loan from the International Finance Corp., and Avaland’s MYR300 million (about P3.6 billion) 5-year Sustainability Sukuk notes.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
