Press Releases


May 2021

Ayala returns to local debt market more than 10x oversubscribed

28 May 2021, MANILA – Four years since it last tapped the local debt market, Ayala Corporation  returns big via a debt securities program that is more than 10 times oversubscribed.  

During the virtual listing ceremony led by the Philippine Dealing & Exchange Corp., Ayala  Corporation President and CEO Fernando Zobel de Ayala said the successful issuance of the first  tranche of the company’s P30 billion debt securities program, which raised P10 billion in  proceeds, will support Ayala’s strategic priorities: strengthening and recalibrating its diverse  portfolio and repositioning the company for a post-pandemic economic recovery.

Ayala Corporation President and CEO, Fernando Zobel de Ayala

“The Ayala group has always been and continues to be an active participant of the capital  markets,” said Zobel. “During this [health] crisis, Ayala Corp., Ayala Land, BPI, Globe, Manila  Water, and AC Energy raised over P190 billion pesos in combined proceeds from the domestic  and international capital markets to allow us to take advantage of opportunities and further  solidify our balance sheet during these challenging times.”  

The oversubscription of the offering allowed Ayala Corporation to price at the lowest end of the  marketing range, carrying a coupon of 3.0260% and 3.7874% for the 3-year and 5-year tenor,  respectively. Moreover, this offering is the largest 5-year allocation among dual tranche offers  during the pandemic, a reflection of the market’s confidence in Ayala’s long-term stability and  credit strength.  

“We are delighted to see that investor interest remained high, with demand from both retail and  institutional investors reaching over P60 Billion,” Zobel added.  

Zobel, meanwhile, lauded the Securities and Exchange Commission and the PDS Group for  launching the country’s first Electronic Securities Issue Portal called e-SIP, which would eliminate  voluminous paper-based submissions and expand a company’s reach by selling securities online.  Ayala Corporation and Ayala Land were the first companies to utilize the e-SIP system.  

In his remarks, Securities & Exchange Commission Chairperson Emilio Aquino thanked Ayala  Corporation for playing an important role in realizing the “capital market’s potential to sustain  our economy’s expansion and bring growth to every Filipino.”  

Chairman of the Securities and Exchange Commission, Hon. Emilio B. Aquino

“As issuers, you create legitimate investments opportunities. And through the capital market,  you make them accessible and thereby allow fellow Filipinos to share with your business success.  By pursuing your expansion projects responsibly and sustainably, more of our fellow Filipinos can  be employed and will be able to provide for and secure a better future for their families,” Aquino  added. 

In addition, Antonio Nakpil, President & CEO of Philippine Dealing & Exchange Corporation,  commended Ayala Corporation and Ayala Land for being the pioneer users of the e-SIP portal  and for their continued support to local capital markets.  

Philippine Dealing & Exchange Commission President and CEO, Mr. Antonino A. Nakpil

“It is fitting that the Ayala Group, led by Ayala Corp—the longest-standing supporters, constructive contributors, and most active group of issuer participants of the domestic capital market—featured prominently to bookend this month, a milestone in the digitalization timeline for the corporate bond primary market,” Nakpil said.

At Ayala Corporation’s annual stockholders meeting last month, Zobel said the Ayala Group will continue to support the expansion of its core value drivers—Ayala Land, BPI, Globe, and AC Energy. It will also support the growth of emerging businesses, Entrego and AC Health. For 2021, the Ayala Group is allocating a combined capex of P196 billion.

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