Ayala ups forward planning with SEC shelf registration

Highly diversified  Ayala Corp. said Thursday that its board had approved the filing of a five-year shelf registration of up to P30 billion with the Securities and Exchange Commission (SEC).

Ayala said in a disclosure that the move would provide the group “with the ability to undertake future issuances of Philippine peso-denominated bonds on an efficient and timely basis.”

The company said its board of directors, upon the recommendation of the finance committee, authorized the filing during its regular meeting on Thursday.

A shelf registration allows a company to register securities in advance and issue them in one or more tranches over a specified period, enabling faster access to the capital markets when funding needs arise or when market conditions are favorable.

Under the proposed program, Ayala may offer the bonds through public offerings to investors over the next five years, subject to market conditions and the completion of regulatory requirements.

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The company said relevant documents and additional information would be filed with the appropriate regulatory agencies in due course.

Ayala did not provide details on the timing, size, interest rates, or maturity of any potential bond issuance, noting that the terms of any future offering would be determined at a later date.