Ayala Land-sponsored AREIT eyes PHP 15 billion debt program

By Marisa Wong

Los Angeles, Oct. 21 – AREIT Inc., a real estate investment trust sponsored by Ayala Land Inc., has filed a registration statement with the Philippine Securities and Exchange Commission for the issuance of fixed-rate bonds under a debt securities program of up to PHP 15 billion.

The registration statement is still pending review by the Philippine SEC, according to a company notice.

AREIT is planning an initial tranche of PHP 3 billion, according to a news article.

Proceeds from the initial tranche are intended to be used primarily for refinancing.

Ayala Land is a Makati City, Philippines-based real estate developer.

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