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Ayala Land raises P8 B from sustainability bonds

The Philippine Star

|

November 14, 2024

Property giant Ayala Land Inc. (ALI) is gearing up to tap more sustainability-linked financing in the coming years following the success of its pioneering initiative which has enabled the company to raise a total of P28 billion so far this year.

-  RICHMOND MERCURIO

ALI raised P8 billion from the second tranche of its sustainability-linked bonds due 2034, which were listed at the Philippine Dealing and Exchange Corp. (PDEx) yesterday.

Proceeds will be used by the company mainly to finance its buyout of the Aboitiz Group's stake in their joint venture in Cebu as well as for the company's residential projects.

Last July, ALI successfully raised P20.5 billion through its pioneering sustainability-linked financing program, which included a P6 billion sustainability-linked bond and a P14.5 billion sustainability-linked loan from the International Finance Corp. (IFC).

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