SECURITIES AND EXCHANGE COMMISSION

SEC FORM 17-C

CURRENT REPORT UNDER SECTION 17

OF THE SECURITIES REGULATIONS CODE (SRC)
AND SRC RULE 17.1

1. June 09, 2023

Date of Report (Date of earliest event reported)

2. 152747 3. 000-153-790-000
SEC Identification Number BIR Tax Identification Number

4. AYALA LAND, INC.

Exact Name of registrant as specified in its charter

5. MAKATI CITY, PHILIPPINES 6. (SEC Use Only)

Province, country or other jurisdiction of Industry Classification Code
incorporation

7. 31F Tower One and Exchange Plaza, Ayala Triangle, 1226

Ayala Avenue, Makati City
Address of principal office Postal code

8. (632) 7908-3111
Registrant’s telephone number, including area code

9. Not Applicable
Former name or former address, if changed since last report

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class Number of Shares of Amount of Debt Outstanding

(As of April 27, 2023) Stock Outstanding (Registered)
Common 14,984,997,731
Voting Preferred* 12,442,512,623 P97,900,000,000.00

Indicate the item numbers reported herein : Item 9. Other Events

Re: Clarification of News Article: “Ayala Land sets P50-B, three-
year bond pipeline”

AYALA LAND, INC.

Registrant

Date: June 09, 2023 MICHAEL ANTHONY L GARCIA

Head, Investor Communications and Compliance,

*Unregistered
09 June 2023

Philippine Stock Exchange, Inc.

6th Floor, PSE Tower, 28th Street corner 5th Avenue,
Bonifacio Global City, Taguig City

To Alexandra D. Tom Wong

OIC, Disclosure Department

Dear Madame,

We write with respect to the news articles posted in various online sites. In the attached news article entitled
“Ayala Land sets P50-B, three-year bond pipeline” posted in Inquirer.net on June 9, 2023, it was reported in
part that:

“MANILA -The Securities and Exchange Commission (SEC) approved Zobel-led Ayala Land Inc.’s P50-
billion borrowing program as the property giant prepares to launch a multibillion-peso bond sale later this
month.

The so-called shelf registration of bonds—approved by the SEC on June 6—allows the developer to easily
launch bond offerings over the next three years.

The first tranche involves the sale of P12.25 billion to P17.25 billion in five-year and 10-year bonds.

Ayala Land will combine this with another P4.75-billion bond offer to raise nearly P22 billion to lower debt
costs and partly finance capital expenditures.

The builder said in a previous deal prospectus the bonds will be offered to the public from June 14 through
June 20 this year.

Listing date

The target listing date on the Philippine Dealing and Exchange Trust Inc. is June 27.

About half of the total proceeds, or P10.4 billion, will be used to finance capital expenditures, including land
acquisition and project development costs for its various residential, office and leisure segments, the
prospectus showed.

Ayala Land will allocate P10 billion to refinance short-term loans that were used to pay for the early
redemption of bonds issued in 2018.

Finally, Ayala Land plans to allocate P1.33 billion to partially refinance outstanding short-term loans,
including those drawn from Metropolitan Bank & Trust Co. and Hongkong and Shanghai Banking Corp. Ltd.,
the prospectus showed.
Underwriting team

The developer hired BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., EastWest
Banking Corp., First Metro Investment Corp., RCBC Capital Corp., and SB Capital Corp. as joint lead
underwriters and bookrunners for the offer.

The new bond sale will strengthen Ayala Land’s balance sheet as it prepares to continue aggressive
expansion in 2023.

The developer earlier announced plans to boost capital spending by 17 percent to P85 billion this year.

Ayala Land will also increase residential project launches by 19.5 percent to P110 billion. This could be
upsized further to P130 billion in case of strong demand.

. . . .”

This is to clarify and/or confirm the following:

1. Ayala Land, Inc. ("ALI" or the “Company”) has received a pre-effective letter issued by the Securities
and Exchange Commission (SEC), following the SEC's meeting on June 6, 2023 that considered the
Company's application for shelf registration of up to P50 billion of debt securities (the “2023
Securities Program”). The Company has sought the issuance of an order of effectivity covering the
2023 Securities Program.

2. ALI will file a Prospectus with the SEC today to cover the offering of P14 billion bonds with an
oversubscription of P5 billion with details as follows:
a) Series A: 6.0253% p.a. 5-year Fixed Rate Bonds due 2028; and
b) Series B: 6.2948% p.a. 10-year Fixed Rate Bonds due 2033

3. Upon receipt from the SEC of the Order of Effectivity and Permit to Sell, the public offering of this
first tranche will run from June 13 through June 19, 2023.

4. Net proceeds from the bond offering will be used to partially fund the Company’s capital
expenditures, and to refinance short term borrowings.

5. ALI engaged BDO Capital & Investment Corporation, BPI Capital Corporation, China Bank Capital
Corporation, East West Banking Corporation, First Metro Investment Corporation, RCBC Capital
Corporation and SB Capital Investment Corporation as Joint Lead Underwriters and Bookrunners.

6. ALI has applied for a listing of the bonds and expects the listing date on the Philippine Dealing &
Exchange Corp. to occur on the issue date of the bonds on June 26, 2023.

MICHAEL ANTHONY L. GARCIA

Head, Investor Communications and Compliance