SB Capital to Sell P2 Billion ALI Commercial Papers

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