Philippines’ Ayala taps banks for dollar-denominated perpetuals

By Marisa Wong

Los Angeles, Oct. 23 – Ayala Corp.’s subsidiary, AYC Finance Ltd., has mandated banks for its planned offering of dollar-denominated fixed-for-life non-deferrable senior perpetual notes, according to a Philippine Stock Exchange notice.

BPI Capital Corp., Credit Suisse Credit Suisse (Hong Kong) Ltd., Hong Kong Shanghai Banking Corp. Ltd., J.P. Morgan Securities plc and UBS AG Singapore Branch are joint lead managers and joint bookrunners for the Regulation S offering.

HSBC is also the global coordinator.

Ayala is a Makati City, Philippines-based conglomerate.

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