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Tuesday, April 8, 2014

ALI: Prepares bond and share sale

ALI is readying to raise funds from bonds and a share sale in support of operations. The company
itself will sell bonds worth Php15Bil, while Php5Bil will be raised by ALI affiliate Cebu Holdings, Inc. (CHI), to support its Php70Bil capital expenditure. ALI’s bonds will mature in 2025, and may be done in one or two tranches, while CHI’s bonds, due in 2021, are planned to be sold in May. In addition, ALI also plans to sell Php3Bil worth of Homestarter Bonds, to raise a total of Php23Bil from its bond sale. Aside from raising funds through bonds, the company is also looking to issue 1Bil unissued common shares in one or more transactions for acquisition of properties and for debt payments. Funds to be raised will depend on the market price as of selling.

Source: Col Financial

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