Paul Hastings Represents Ayala Land in US$300 Million Share Placement

March 22, 2013

Hong Kong (March 22, 2013) - Paul Hastings, a leading global law firm, announced today that it represented Ayala Land, Inc. (“Ayala Land”) on its US$300 million top-up placement. Ayala Land is the largest real estate conglomerate in the Philippines engaged principally in the planning, development, subdivision and marketing of large-scale communities having a mix of residential, commercial, leisure and other uses.

UBS was the sole bookrunner and placement agent.

The placement was an overnight bookbuilt offering structured as a top-up placement by Ayala Corporation wherein all the proceeds will be received by Ayala Land. Ayala Land will use the proceeds of the share placement primarily to fund its next phase of development.

In 2012, Paul Hastings advised the placement agents on Ayala Land’s US$326 million top-up placement. The successful closing of the transaction marked the largest-ever overnight placement in the Philippines.

The Paul Hastings team was led by partners Patricia Tan Openshaw and Steven Winegar, with support from associates Jordan Baggs and Lisa Park.