Ayala offers respite for equity-linked investors

A $300m exchangeable bond into Philippines property developer Ayala Land provides cheap funds for the parent and welcome diversification for investors.

Ayala offers respite for equity-linked investors

After digesting a week of issuance from high-growth, high-beta Chinese tech and gaming companies, equity-linked investors were relieved on Thursday evening to see a deal for Philippines blue-chip Ayala Land.

The $300 million bond was issued by Ayala Corp, the parent company, and is exchangeable into shares of Ayala Land, which has become a popular stock with investors thanks to its solid reputation and recent rapid growth profits rose 30% last year.

...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...