A new milestone for Ayala Land

MANILA, Philippines - Ayala Land, Inc. (ALI) recently issued corporate notes amounting to P10 billion, its first time to do so. The momentous event was led by ALI chief finance officer Jaime Ysmael, who stated, “The company is very pleased with the results of the transaction. The offering represents the largest fundraising initiative by Ayala Land in the capital markets, and also achieved the longest tenor at 15 years for a Philippine corporate institution. This accomplishment is in step with what we expect will be Ayala Land’s largest capex program to date, thereby positioning us well to achieve even stronger results in 2011, having recently closed a banner year in 2010.”

Citicorp Capital Philippines Inc., The Hongkong and Shanghai Banking Corporation Limited and BPI Capital Corporation served as joint lead managers and book runners for the offering.