The company said the board approved the plan during its regular meeting, following a recommendation from its finance committee.
Bond flexibility
Ayala said the shelf registration will allow it to undertake future issuances of Philippine peso-denominated bonds on a more efficient and timely basis.
The securities will be sold through general public offerings, it said.
Group footprint
Ayala is a diversified conglomerate with major businesses in property, banking, telecommunications, energy, and infrastructure, and has been listed on the Philippine Stock Exchange for decades.
Ayala said relevant documents will be filed with regulators in due course, and the shelf registration gives the group flexibility to tap the bond market when funding conditions are favorable without having to secure approval each time.
—Edited by Miguel R. Camus
