Ayala Corporation is planning to raise up to P10 billion from the issuance of fixed rate bonds as the first tranche of its P30 billion shelf registration that will be filed with the Securities and Exchange Commission.

     In a disclosure to the Philippine Stock Exchange, the firm said the first tranche will consist of the aggregate principal amount of up to P6.0 billion with an oversubscription option of up to an additional P4.0 billion.

Ayala’s net income in the third quarter more than doubled to P3.4 billion compared to the previous quarter, mainly on improved performance of Ayala Land and AC Industrials, lower loan loss provisions booked by BPI, and the absence of re-measurement losses from Manila Water recognized in the second quarter.

The firm has yet to disclose its fourth quarter and full year 2020 results.

Source: Manila Bulletin (https://mb.com.ph/2021/03/10/ayala-to-raise-p10b-from-bonds/?utm_source=rss&utm_medium=rss&utm_campaign=ayala-to-raise-p10b-from-bonds)