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SB Capital Investment Corporation, the investment banking subsidiary of Security Bank Corporation (SBC), has been appointed as one of the Selling Agents for the P2 billion Short-Term Commercial Paper (STCP) issued by publicly-listed firm Ayala Land, Inc. (ALI).
The initial tranche, issued as Series “A”-1 Floating Rate STCPs, was offered from May 17 to 20, 2004. Total volume raised for the initial tranche was P364.75 Mn, priced at 8.1883% p.a. The said STCPs were issued on May 21, 2004 and shall mature on May 20,
2005.
The success of the initial offering highlights the continued market confidence in ALI’s capacity to pursue sound business strategy and maintain profitability despite difficult market
conditions.
SB Capital, since it started its operations in 1996, has emerged as one of the most stable and well capitalized investment houses in the country that offers a wide range of investment banking and financial services.
Standard Chartered Bank acts as the Issue Manager and Underwriter for the issue while PCI Capital Corporation is the other selling agent tapped for the offering.
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