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New Issue: Philippines' Ayala Land sells upsized PHP 3 billion of notes
By Reshmi Basu
New York, Sept. 22 - Ayala Land, Inc. said it sold an upsized PHP 3 billion issue of fixed-rate notes via a Dutch auction.
The deal, increased from PHP 2 billion, is comprised of three tranches of 7¼% notes due 2011, 7 3/8% notes due 2013 and 7¾% notes due 2016.
The deal was to institutional lenders while proceeds will be used for general corporate purposes.
Ayala Land is a Makati City, Philippines, real estate developer.
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