ALI plans PHP 75B capital raise for PHP 100B property projects

Ayala Land Inc. (ALI) plans to raise up to PHP 75 billion in capital this year through retail bonds, corporate notes, and bilateral term loans, aiming to launch PHP 100 billion worth of property development projects.

In a regulatory filing, ALI disclosed its board's approval for the capital-raising initiative which will partially fund general corporate requirements and refinance maturing debt. The company expects to grow its bottom line at twice the country’s economic growth rate forecasted at around 12% in 2025.

ALI also announced it will infuse PHP 21 billion worth of properties into its real estate investment trust (REIT) company, AREIT Inc., through a property-for-share swap deal. This move further expands AREIT's portfolio and is subject to approval by AREIT shareholders at their annual meeting on April 24.