Defining the News
Property developer Ayala Land Inc. plans to raise between P20 billion and P30 billion through the debt market in the second half of 2024 for its funding requirements.
ALI earlier programmed to borrow P50 billion this year, including P20 billion that would be used for refinancing. “The budget could be P20 to P30 billion of debt to be raised in the last semester. That is what we penciled in, and we will finalize the actual funding the program,” Bengzon said. Bengzon said it is keeping its P100-billion capex target for the year as the company plans to ramp up its spending in the second half amid improving market conditions.
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