Philippines' Ayala Land to raise $168 mln via bonds in March

February 19, 2016 8:58 AM

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MANILA Feb 19 Philippine property firm Ayala Land Inc said on Friday it will raise 8 billion pesos ($167.87 million) through fixed-rate bonds in March, part of a 50 billion pesos capital raising program in the next three years.

Proceeds of the 10-year bonds will be used to fund capital expenditures this year, Ayala Land Chief Finance Officer Jaime Ysmael told a briefing.

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