Ayala Corp. hikes peso bond issue size to P6B

Ayala Corp., the country’s oldest and largest conglomerate, on Monday said it has increased the size of its peso-denominated bond issue to P6 billion, following healthy demand from investors. The firm earlier announced that it would be offering P5 billion in bonds, with an option to increase the size to up to P8 billion. In a disclosure to the Philippine Stock Exchange, Ayala Corp. said the base issue of P5 billion has already been subscribed, hence its exercise of an oversubscription of P1 billion. Ayala Corp. is the parent company of publicly listed firms Bank of the Philippine Islands, Ayala Land Inc., Globe Telecom and Manila Water. - GMANews.TV