Ayala Land to set bond issue yield rates April 11

Ayala Land Inc. on Friday said the final interest rates for its seven- and 10-year bonds will be issued on April 11.

 

The bonds have been assigned indicative yield rates of 5 percent and 5.35 percent for the seven-year issue and 5.15 to 5.8 percent for the 10-year debt. The property developer told the Philippine Stock Exchange “… ALI’s application for registration of fixed rate callable bonds due 2019 and 2022, with an aggregate principal amount of P10.0 billion with an oversubscription of up to P50.0 billion was approved the by Securities and Exchange Commission yesterday, March 29, 2012…” The SEC approval is subject to the submission of the final prospectus and executed bond issue document, the company said.

 

“The bond offering will be issued in two tranches of seven and ten-year maturities, with a call option feature exercisable on the fifth year and 1 day, and on the seventh year following issue date respective,” Ayala Land added. 

 

The five-day bond sale will start on April 16. —VS, GMA News