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