ALI raised P8 billion from the second tranche of its sustainability-linked bonds due 2034, which were listed at the Philippine Dealing and Exchange Corp. (PDEx) yesterday.
Proceeds will be used by the company mainly to finance its buyout of the Aboitiz Group's stake in their joint venture in Cebu as well as for the company's residential projects.
Last July, ALI successfully raised P20.5 billion through its pioneering sustainability-linked financing program, which included a P6 billion sustainability-linked bond and a P14.5 billion sustainability-linked loan from the International Finance Corp. (IFC).
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