Apr 27, 2016 @ 10:23
Ayala Land to offer up to P3B in homestarter bonds
Property giant Ayala Land Inc. plans to offer a new series of “Homestarter” bonds in the third quarter.
In a stock exchange filing, ALI said it was looking at issuing up to P3 billion worth of Homestarter bonds, which give holders the option to build up seed money to buy an Ayala-developed residential unit.
This will be the seventh of ALI’s series Homestarter bonds launched in 2006.
The offering targets retail investors who plan to earmark funds that may be used as partial down payment for the purchase of any residential product across various Ayala brands.
Bondholders earn a bonus credit through the program—a special discount on the net selling price of various ALI properties should the bondholder decide to apply the principal amount and accrued interests, net of taxes, as down payment to buy an Ayala Land property.