The stock exchange, Ayala Managing Director and CFO
The shares will be offered at P500 apiece, with a fixed quarterly dividend rate.
Timing of the share issuance is to the end of the year. This is in preparation for future investments including power and infrastructure projects.
The company said that the rate will be a premium on either the 5-year or 7-year PDST-RT benchmark.
Just like its outstanding series of preferred B shares, the new shares are structured as perpetual equity securities with preference in the payment of dividends, while payment of current dividends will be cumulative.
The new series will be non-convertible and shall have no voting and preemptive rights.
The offer of this new series, is subject to regulatory approvals.
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