Connect with us

Hi, what are you looking for?


Ayala, AYC Finance plan notes issue, tender offer

AYALA Corp. is planning the offer of dollar-denominated perpetual notes to be issued by wholly owned subsidiary AYC Finance Ltd., which is also eyeing a tender offer.

“The notes issuance and the tender offer are part of AC’s (Ayala’s ticker symbol) active liability management exercise that aims to take advantage of capital markets opportunities if and when they arise,” the listed company said in a disclosure to the exchange on Wednesday.

The conglomerate said its Regulation S dollar-denominated senior fixed-for-life non-deferrable perpetual notes will be issued by AYC Finance.

Ayala has assigned BPI Capital Corp, Citigroup Global Markets Singapore Pte. Ltd., Credit Suisse (Singapore) Ltd., JPMorgan (S.E.A.) Ltd., Mizuho Securities (Singapore) Pte. Ltd., and UBS AG Singapore Branch as the joint lead managers and joint bookrunners.

The company said it mandated the firms to “arrange a series of fixed income investor calls” on Sept. 15.

Meanwhile, AYC Finance will conduct a tender offer of its $400-million 5.125% senior fixed-for-life notes (ISIN: XS1681502537) and $400-million 4.85% senior fixed-for-life notes (ISIN: XS2068075980). It will set a maximum acceptance amount for the tender offer, which will expire on Sept. 24 at 4:00 p.m. London time.

“Proceeds of the notes issuance will be used to refinance [AYC Finance’s] outstanding USD (US dollar)-denominated guaranteed undated notes including, among others, through funding of the tender offer, and other USD-denominated obligations,” the listed company said.

Shares of Ayala on Wednesday went down by 0.93% or P7.50, closing at P803 each. — Keren Concepcion G. Valmonte

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Official White House Photo by Adam Schultz WASHINGTON — A first in-person meeting of the leaders of the Quad group of countries — the...


PIXABAY UNITED NATIONS — Faced with what they see as an existential threat, leaders from low-lying and island nations implored rich countries at the...


StackLeague is now gathering over 6,000 developers, software engineers and programmers all across the Philippines who share the same interest in competing while also...


Insights to Inspire aims to spark ideas that empower businesses to pursue bigger goals through data and information. Read our insights on current issues...


By Luz Wendy T. Noble, Reporter THE PHILIPPINE central bank kept the benchmark policy rate at a record low on Thursday, as it tries...


BW FILE PHOTO By Beatrice M. Laforga, Reporter THE NATIONAL Government’s budget deficit tripled to P120.9 billion in August from a year earlier after...

You May Also Like

When people envision technology overtaking society, many think of The Terminator and bulletproof robots. Or Big Brother in George Orwell’s Nineteen Eighty-Four, a symbol...

Financial Advisors

Stock Markets9 hours ago (Jul 02, 2020 04:45AM ET) (C) Reuters. ROME (Reuters) – World food prices rose in June to post their first...


SAN FRANCISCO — The spread of the coronavirus has meant feast or famine for technology start-ups. While many are cutting staff and slashing costs...


OAKLAND, Calif. — Jack Dorsey has won plaudits for his corporate activism during the coronavirus crisis, taking on President Trump in his role as...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Respect Investment. All Rights Reserved.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!