Ayala Land, Inc. (ALI) has raised P15 billion through the issuance of sustainability-linked bonds (SLB), the fourth tranche under its P50-billion debt securitization program.
The bonds listed on the Philippine Dealing and Exchange Corp. (PDEX) include a five-year Series C due 2030 at 6.0671% and a 10-year Series D due 2035 at 6.3192%, ALI said in a statement on Wednesday.
SLBs are tied to two sustainability targets: a 42% reduction in greenhouse gas emissions across ALI's malls, offices and hotels by 2030, and EDGE zero carbon certification for 1.5 million square meters of office space by 2025.
The proceeds will be used to refinance existing debt (60%) and fund capital expenditures (40%) for major developments including the BPI Headquarters redevelopment, Greenbelt 1 transformation, and Ayala Malls Ivo City in Cavite.
“This issuance completes our debt financing plan for 2025,” Ayala Land Chief Financial Officer Jose Eduardo Quimpo II said during the PDEX listing ceremony. “We have raised a total of P56 billion, or approximately $1 billion, which reflects our progress in integrating sustainability into our growth strategy.”
Philippine Rating Services Corp. (PhilRatings) has assigned the bond a PRS AAA rating with a stable outlook.Beatriz Marie D. Cruz
