AyalaLand SLF2

active

IFC is proposing to provide AyalaLand Malls, Inc. (ALI or the Company) with up to 14.3 billion Philippine Pesos (PHP) (equivalent to approximately US$250 million) in local currency on IFC’s own account in the form of sustainability-linked financing (SLF) with up to 8-year tenor (the SLF2). The SLF 2 proceeds will be used for the construction of two (2) new malls in Metro Manila-Makati City (Greenbelt 1) and in Kawit, Cavite (EvoCity) southwest of Metro Manila on existing brownfield sites (the Project).  Construction work is being completed by Makati Development Corporation (MDC), a wholly owned subsidiary of ALI. The Project will be operated by AyalaLand Malls, Inc. (ALMI), a wholly owned subsidiary of ALI, once completed. Construction has commenced and it is expected that both malls will be completed by mid-2027 to 2028. The loan complements IFC’s existing investment to ALI committed in 2024 (SLF1) that has been utilised for reinvention and refurbishment of ten (10) existing malls in Manila and Cebu, including an adjacent mall at the Greenbelt site.