Areit, Inc. Plans to Raise PHP 3 Billion from the Issuance of Fixed-Rate Bonds
October 21, 2021 at 12:46 am EDT
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AREIT Inc., pioneering real estate investment trust sponsored by Ayala Land Inc., is planning to raise PHP 3 billion from the issuance of fixed-rate bonds as the initial tranche of its proposed Debt Securities Program of up to PHP 15.0 billion. The firm intends to use the net proceeds from the bond offering for its capital expenditures, refinancing and general corporate purposes. Philippine Rating Services Corporation (PhilRatings) assigned the Issue Credit Rating of PRS Aaa, with a Stable Outlook, for AREIT's proposed issuance of up to PHP 3.0 billion in Fixed-rate Bonds.
AREIT, Inc. is a Philippines-based real estate investment trust (REIT). The Company is engaged in the business of commercial leasing of retail and office spaces. It is focused on owning and investing in commercial portfolio of office, retail, and hotel properties in the Philippines. The Company caters to retail and office tenants. Its investment properties are composed of approximately seven stand-alone buildings, three mixed-used properties, approximately nine condominium office units, and four land parcels. The Company's investment properties are located across various cities in Philippines, which include Makati City, Cebu City, Bacolod City, Quezon City, Ayala Avenue, Gil Puyat Avenue and Muntinlupa City.
AREIT, INC. 
