SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Jul 18, 2017

2. SEC Identification Number

152747

3. BIR Tax Identification No.

000-153-790-000

4. Exact name of issuer as specified in its charter

AYALA LAND, INC.

5. Province, country or other jurisdiction of incorporation

MAKATI CITY, PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

31F Tower One and Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City Postal Code 1226

8. Issuer's telephone number, including area code

(632) 750-6974

9. Former name or former address, if changed since last report

Not Applicable

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	14,724,947,558
Preferred Shares	13,066,494,759

11. Indicate the item numbers reported herein

Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Ayala Land, Inc.ALI

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Clarification on the news article entitled “Ayala to offer P5b more in notes”

Source	manilastandard.net
Subject of News Report	“Ayala to offer P5b more in notes”
Date of Publication	Jul 18, 2017

Clarification of News Report
We respond to your letter seeking our clarification and/or confirmation on the news article entitled “Ayala to offer P5b more in notes” posted in manilastandard.net on July 17, 2017. The article reported in part that: “Property giant Ayala Land Inc. plans to raise another P3 billion to P5 billion in short dated-debts after successfully generating P4.3 billion from the issuance of the pioneering short term financial instrument. Ayala Land chief finance officer Augusto Bengzon said in an interview at the sidelines of the listing of P4.3 billion worth of short-dated notes due 2019 the company planned to issue similar offerings as early as next month. . . . . Bengzon said the company because of the strong demand instructed underwriters to come up with a follow-up offering to be issued as early as next month, with the size ranging from P3 billion to P5 billion. ‘This is actually more cost-effective. It’s longer at 21 months versus commercial papers. The coupon is 2.75 percent versus short term loans of anywhere between 2.6 to 3.25 percent. I believe the cheapest short term loans are in the vicinity of 6 percent if you do a survey of all the banks. So Ayala Land gets very preferential short term rates, but this one is even more preferential, given that it’s quite cheap,’ Bengzon said. . . . .”
Other Relevant Information
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