Conglomerate Ayala Corp. is returning to the international bond market with the planned issuance of US dollar-denominated senior fixed-for-life perpetual notes.
Ayala said in a disclosure to the stock exchange it mandated BPI Capital Corp., Citigroup Global Markets Singapore Pte. Ltd., Credit Suisse (Singapore) Limited, J.P. Morgan (S.E.A.) Limited, Mizuho Securities (Singapore) Pte. Ltd. and UBS AG Singapore Branch as Joint lead managers and joint bookrunners for the fund raising activity.
The notes will be issued by AYC Finance Ltd., a wholly owned subsidiary whose ordinary shares are 100-percent held directly by Ayala Corp. The notes will be unconditionally and irrevocably guaranteed by AC.
The conglomerate also reported that it would conduct a tender offer of its $400-million 5.125 percent senior fixed-for-life notes issued in 2017 and $400-million 4.85 percent senior fixed-for-life notes issued in 2019.