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Ayala Corp. lists Asias 1st hybrid preferred shares

Ayala Corp. lists Asias 1st hybrid preferred shares Hybrid preferred shares of Ayala Corp., one of the countrys largest conglomerates, will be the first publicly offered local currency hybrid capital in Asia. The shares, which will be listed in the stock market today, are expected to raise P5.8 billion. The preferred shares will pay a fixed dividend rate of 9.475 percent per annum to be paid quarterly. The hybrid capital has a perpetual maturity with an option from Ayala to call in five years, said HSBC treasurer Jose Arnulfo Veloso yesterday. HSBC and BPI Capital Corp. are joint issue manager

HK Bk Of E Asia Sells Upsized $500M Bond For Refinancing

HK Bk Of E Asia Sells Upsized $500M Bond For Refinancing The Bank of East Asia Friday raised a larger-than-anticipated $500 million from what will be one of the last international high-grade bonds in Asia this year. The borrower, Hong Kong's largest domestically owned bank, sold the subordinated bonds at a price of 99.725 to yield 72basis points over mid-swaps. That was in line with revised guidance of 70-75 basis points over five-year mid swaps, or around 122-127 basis points over U.S. government debt. The borrower originally planned to raise $400 million at a premium of around 65 basis points

Ramsay eyes Asia after lift

Ramsay eyes Asia after lift AUSTRALIA'S biggest private hospital operator, Ramsay Health Care, yesterday said it was putting feelers out for acquisitions in Asia, after unveiling an 80 per cent rise in interim net profits. Managing director Pat Grier said that the company's strong cash flow and falling debt had allowed it to begin scouring for potential takeover targets in Asia, followed by Britain. He said management was keen to "build capacity" in Indonesia - where Ramsay already has a small portfolio of three hospitals - as well as seek out small "bolt-on" acquisitions. The company booked a better than expected interim

Briefly: Bank of East Asia buys U.S. lender

Briefly: Bank of East Asia buys U.S. lender Bank of East Asia, a Hong Kong lender, said Tuesday that it was buying National American Bancorp as part of plans to expand in the United States. The bank did not disclose the amount it was paying for National American, which operates three retail branches in the San Francisco area that had assets of $87.3 million at the end of June 30. "Our move is in line with our strategy to expand our catchment area to locations where our key target customer groups reside," said Bank of East Asia's chairman, David

ONeill eyes Asia, then world

ONeill eyes Asia, then world FOOTBALL Federation Australia has set its sights on hosting the Asian Cup finals in 2011, chief executive John ONeill said yesterday. And the odds are he could still be around to see the move come off. Despite the fact he has played a big role in the turnaround of Australian soccer over the past two-and-a-half years, with his contract due to run out there has been conjecture over ONeills future at FFA. While he has been reluctant to discuss the matter over the past few months, he gave the clearest indication yet that he will be staying