Paul Hastings announced today that it advised the placement agents on Ayala Land, Inc.’s (“Ayala Land”) US$356 million (PHP16 billion) top-up placement.

Ayala Land is a leading diversified property developer in the Philippines. Proceeds of the placement will support Ayala Land’s capital expenditure program for 2015, which is estimated at PHP100 billion.

Paul Hastings has advised on several capital markets transactions by Ayala Land over the past few years, including its US$300 million top-up placement in 2013 and its US$326 million top-up placement in 2012.

The Paul Hastings team was led by corporate partner Steven Winegar, with support from associate Tim Sung.