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Ayala Land considers registering debt securities program

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Ayala Land considers registering debt securities program

Filipino developer Ayala Land Inc. is mulling the registration of a new shelf debt securities program with Philippines' Securities and Exchange Commission, according to a BusinessWorld (Manila) report.

The company is planning to register a 50 billion-peso shelf with a three-year timeline.

According to the Oct. 8 report, Ayala Land CFO Augusto Bengzon said the developer is looking to register the shelf later in 2018 or in early 2019, reflecting the same amount of the first shelf that the company has fully utilized. The executive added that the debt securities program will be a mix of commercial papers, bonds and other forms of fixed income instruments.

As of Oct. 8, US$1 was equivalent to 54.12 Philippine pesos.