AYALA Corp. on Monday said that it would be redeeming its P10-billion bonds due February 10 next year in accordance with the prospectus and the issuance’s terms and conditions.
The bonds were issued in February 2017 with a coupon rate of 4.82 percent per year.
“The bonds shall be redeemed by payment in cash of the redemption price set at 100 percent of the issue price plus all accrued and unpaid interest based on the coupon rate of 4.82 per annum,” the conglomerate told the stock exchange.
Ayala said that it would be paying a little over P10.12 billion in total, including accrued interest but before any applicable tax deduction, on February 10, 2025, “on which date all interest on the bonds will cease to accrue and payment of the redemption amount will be made to each bondholder.”
The redemption amount per minimum denomination of P50,000 will be P50,602.50 before any applicable tax deduction. Payment will be made to bondholders recorded as of Feb. 6, 2025.
Ayala raised net proceeds of P9.9 billion from the issuance of the seven-year bonds, which it used to refinance its peso-denominated debt obligations.
In a separate disclosure, Ayala said its board had also approved the declaration of first-quarter 2025 cash dividends on its outstanding preferred “B” Series 3 shares “amounting to a quarter of 6.0538 percent per annum, or P30.269 per share, based on the issue price of the shares.”
The total dividend payment is estimated to amount to about P227 million for some 7.5 million preferred shares.
The record date is Jan. 6, 2025, and payment was set for Jan. 15, 2025.
For the first nine months of 2024, Ayala posted a 19-percent year-on-year increase in net income to P49.6 billion on gross revenues of P232.8 billion, driven by strong contributions from its banking, real estate, telco, and energy and infrastructure subsidiaries.
Ayala shares slid by 50 centavos, or 0.07 percent, to close at P613.50 apiece on Monday.
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