By Angela McDaniels
Tacoma, Wash., Jan. 28 - Ayala Land, Inc. has privately placed PHP 2.38 billion of fixed-rate corporate notes, according to a 17-C filing with the Philippines' Securities and Exchange Commission.
The notes were issued in three tranches with tenors of five, seven and 10 years.
Insular Investment and Trust Corp., First Metro Investment Corp. and BPI Capital Corp. were the joint lead managers.
The company signed an agreement Tuesday for a financing facility, which took the form of the notes, and drew the proceeds Wednesday.
Proceeds will be used for general corporate purposes, including capital expenditures.
Ayala Land is a Makati City, Philippines-based real estate developer.
| Issuer: | Ayala Land, Inc.
|
| Issue: | Fixed-rate corporate notes
|
| Amount: | PHP 2.38 billion
|
| Maturity: | 2014, 2016 and 2019
|
| Bookrunners: | Insular Investment and Trust Corp., First Mero Investment Corp. and BPI Capital Corp.
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 28
|
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