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Ayala Corporation approves fixed rate bonds

During the Ayala Corporation Board of Directors meeting held today, the Board approved the offer and issuance of the Ayala Fixed Rate Bonds (the "Bonds") in the principal amount of PhP8 billion up to PhP10 billion subject to the registration requirements of the Securities and Exchange Commission ("SEC") and the appointment of BPI Capital Corporation as the Issue Manager under the following terms and conditions:

Instrument: SEC-registered retail bonds
Issue Price: At par (or 100% of face value)
Manner of Distribution: Public Offering
Form and Denomination: The Bonds shall be issued in scripless form in minimum denominations of PhP50,000 each, and in multiples of PhP10,000 thereafter
Maturity Date: Up to 15 years from Issue Date
Call Option: Issuer shall have a Call option
Interest Rate: Applicable PDST-R2 plus spread

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"Ayala Corporation approves fixed rate bonds" was written by Mary under the Business category. It has been read 1890 times and generated 0 comments. The article was created on 14 March 2012 and updated on 14 March 2012.

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