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Ayala’s AYC Finance tenders for up to $100 million of 5 1/8% perpetuals
By Marisa Wong
Los Angeles, April 25 – Philippines’ AYC Finance Ltd. launched a tender offer to purchase for cash up to $100 million of its $300 million 5 1/8% undated notes (ISIN: XS1681502537) guaranteed by parent company Ayala Corp., according to a notice.
AYC Finance is offering to purchase the notes at $1,002.50 per $1,000 principal amount.
In addition, the company will pay accrued interest.
The offer expires at 11 a.m. ET on May 5.
Results are expected to be announced on May 6.
Settlement is slated for May 10.
The issuer said it is conducting the tender offer as part of its active liability management program.
BPI Capital Corp. (+632 8246-5149 / +632 8246 5150, +852 2101 7700, bpicapsyndicate@bpi.com.ph) and Credit Suisse (Singapore) Ltd. (+852 2101 7700, list.hkdcmsyndicate@credit-suisse.co) are the dealer managers for the tender offer.
Kroll Issuer Services Ltd. (+852 2281 0114 / +44 20 7704 0880, ayala@is.kroll.com, attn.: Mu-yen Lo / Illia Vyshenskyi, https://deals.is.kroll.com/ayala) is the tender and information agent.
Ayala is a Makati City, Philippines-based conglomerate.
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