Maria Noime Cabaltera, Service Advisor at Isuzu Gencars Makati, receives the plaque and
check as the champion in the Service Advisor Category at the 18th Isuzu Service Skills Olympics.
Presenting the honors are Mr. Tetsuya Fujita, President of Isuzu Philippines Corporation, and Mr.
Naohiko Yanagawa, Executive Officer of Aftersales Division at Isuzu Motors Ltd.
The Securities and Exchange Commission (SEC) has approved property developer Ayala Land Inc.’s shelf registration of up to P50 billion worth of bonds.
In its en banc meeting, the SEC approved the registration statement of Ayala Land covering bonds that may be issued in one or more tranches within a period of three years.
For the first tranche, Ayala Land will offer up to P12.25 billion of 5-year and 10-year bonds, plus an oversubscription option of up to P5 billion.
In addition, the company will offer up to P4.75 billion of bonds comprising the fourth and final tranche of its existing P50-billion debt securities program that was previously approved by the agency in 2021.
Assuming the oversubscription option is fully exercised, Ayala Land could net up to P21.73 billion from the offering, which will be used to refinance short-term loans and to fund capital expenditures.
The bonds will be offered to the public at face value from June 14 to 20, in time for listing on the Philippine Dealing and Exchange Trust Inc. on June 27, according to the latest timetable the company submitted to the SEC.
Ayala Land has picked BDO Capital and Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., First Metro Investment Corp., RCBC Capital Corp. and SB Capital Corp. as joint lead underwriters and bookrunners for the offer.
In April, Ayala Land said it will launch four new estates to expand its portfolio as the company is confident that the real estate sector will bounce back this year.
Bernard Vincent O. Dy, Ayala Land president, said the Philippine economy’s prospects will support the company’s growth not only for this year, but also for the foreseeable future.
In the company’s quarterly briefing in February, company officials said they are planning to launch an industrial estate in Padre Burgos, Batangas.
Augusto Cesar D. Bengzon, the company’s CFO, said the company will launch some P110 billion worth of inventory this year from P90 billion last year.