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(From Philippine Daily Inquirer)
Byline: Elizabeth L. Sanchez
A GROUP of seven local and foreign banks are proposing to arrange a peso bond issue for conglomerate Ayala Corp.
Proceeds of the proposed issue would likely be used to refinance maturing debts.
The issue size has yet to be set but sources told the Inquirer that the amount being proposed range from P5 billion to P6 billion.
The banks that had jointly made the proposal were BPI Capital, BDO Capital, First Metro Investment Corp., Land Bank of the Philippines, ING Bank, Standard Chartered Bank and PCI Capital.
An agreement has yet to be reached on the proposed debt …