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Ayala Land sets issue of P3B homestarter bonds

Published on 29 August 2012 [ manilatimes.net ]

Ayala Land Inc.’s (ALI) board of director recently approved the issuance of the fifth series of the company’s homestarter bond with an issue size of up to P3 billion, which will be sold through a general public offering to retail investors.

In a disclosure to Philippine Stock Exchange, ALI said that the issuance will be subject to the registration requirements of the Securities and Exchange Commission.

“The bonds will be priced at 100 percent of face value and will mature three years from initial issue date,” said the disclosure.

ALI added that the proceeds, net of issue related expenses, will be used to fund the company’s general corporate purposes.

The listed real estate firm, meanwhile, has declared a cash dividend of P0.10 per outstanding common share, which reflects a 42 percent increase from last year’s regular cash dividend of P0.07 per share. That will bring the company’s dividend payout to 40 percent of prior year’s earnings.

Also, the company made the approval of the strategic alliance that they entered into several months ago with the group led by Ignacio Ortigas, allowing them to participate in OCLP Holdings Inc.

In June, ALI entered into a strategic alliance with the group led by Ignacio Ortigas to participate in OCLP Holdings, and allocated P15 billion to the development of its various properties and businesses.

ALI said that the alliance with OCLP Holdings, the parent company of Ortigas and Company Ltd. Partnership, was an invitation that came from Ortigas and this is in line with ALI’s plan to expand.
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