Ayala Land to raise $246.8m via loan deals

Visual from Ayala Land homepage

Listed Philippine property developer Ayala Land Inc (ALI) is seeking to raise up to $246.8 million (P11 billion) in loan deals with different banks to fund some of its projects this year.

ALI also plans to raise up to $44.8 million (P2 billion) via its investment tool the Ayala Land Homestarter Bond.

“We are in the process of raising the remaining P13 billion balance of our P20 billion borrowing program for 2015. The aforesaid balance shall be comprised of up to P11 billion in bilateral long-term loans from various banks and up to P2 billion in Homestarter Bonds to be issued to retail investors subject to the registration and approval requirements of the Securities and Exchange Commission,” ALI told the stock exchange yesterday.

The real estate conglomerate has just concluded its P7 billion retail bond offering on Wednesday.

ALI disclosed plans of building a giant shopping mall in Paranaque City, which is much bigger than the SM Mall of Asia (MOA) in Pasay City owned by tycoon Henry Sy Sr.

The giant mall will have a gross floor area of 407,000 square meters to be built within a 9-hectare mixed use complex in Paranaque which will include commercial offices, and a 12-storey hotel with at least 325 rooms.

ALI’s last traded price went down by 2.64 per cent or P1.05 to close at P38.65 on Thursday.

Related stories:

PH based real estate co Ayala Land acquires Aegis in a $9.7m share buyout

Ayala Land raises $356m in private placement 

PH’s Ayala Land surfaces as 9% anchor investor in MY’s MCT

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.