Ayala Corp. said Thursday it is returning to the domestic bond market with a planned issuance of up to P30 billion worth of fixed-rate retail bonds.
The conglomerate said in a disclosure to the stock exchange that its board of directors approved the registration of the bonds under a shelf registration program. The program is intended to allow the company to undertake future issuances of Philippine peso-denominated bonds on an efficient and timely basis.
The company did not provide specific details regarding the timetable or the offer size for the initial tranche. The bonds will be filed and registered with the Securities and Exchange Commission.
Ayala Corp. has earmarked P230 billion for 2025 capital expenditures. The funds aim to support expansion plans for its core real estate, power generation and telecommunications businesses.
Data from the Philippine Dealing & Exchange Corp. show the company has P6 billion worth of bonds maturing in May 2026 with a coupon rate of 3.7874 percent per annum. Another P7.5 billion worth of bonds with a coupon rate of 5.6239 percent is set to mature in May 2027.
The conglomerate last issued corporate bonds in 2022 when it raised P10 billion through a fixed-rate bond sale.
Several other companies have expressed interest in issuing retail bonds this year as interest rates begin to ease.
Rockwell Land Corp. has lined up a P10-billion bond sale, while Haus Talk Inc. reported a P2-billion bond offering.
Government-owned Land Bank of the Philippines announced plans to raise P5 billion in green bonds. Financial institutions BDO Unibank Inc. and Bank of the Philippine Islands are also in the process of completing sustainability bond offerings.
