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 24, 2017

2. SEC Identification Number

34218

3. BIR Tax Identification No.

000-153-610-000

4. Exact name of issuer as specified in its charter

AYALA CORPORATION

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

32F TO 35F, TOWER ONE AND EXCHANGE PLAZA, AYALA TRIANGLE, AYALA AVENUE, MAKATI CITY Postal Code 1226

8. Issuer's telephone number, including area code

(02) 908-3000

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

N/A

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	621,224,987
Preferred B Series 1 Shares	20,000,000
Preferred B Series 2 Shares	27,000,000
Voting Preferred Shares	200,000,000

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 CorporationAC

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
AC Energy and UPC Renewables to Develop Small Island Power Projects in Indonesia
Background/Description of the Disclosure
Please be informed that AC Energy International Holdings Pte Ltd. (“AC Energy International”), a subsidiary of AC Energy Holdings, Inc. (“AC Energy”), which in turn is a wholly-owned subsidiary of Ayala Corporation, has entered into a development funding arrangement with UPC Renewables Asia Pacific Holdings Ltd. and UPC Renewables Asia I Limited (collectively, “UPC Renewables”) for the development of small island power projects in Indonesia. Under the terms of the agreement, AC Energy International agreed to provide funding for the development of power generation projects with sub-50MW capacities. AC Energy will also have accompanying rights to participate in further construction funding of other Indonesian renewable energy projects. UPC Renewables’ and AC Energy’s partnership started in 2013 for the development, construction and operations of North Luzon Renewable Energy Corp., an 81MW wind farm project in Pagudpud, Ilocos Norte, Philippines. Last January, the two groups achieved financial closing in relation to their 75 MW Sidrap wind farm joint venture project in South Sulawesi, Indonesia, which is the first ever utility-scale wind farm project in Indonesia with an expected operations date of February 2018. UPC Renewables is a leading global energy player that develops, finances, constructs, owns, and operates a portfolio of renewable energy generation assets. UPC Renewables with its partners have successfully developed and operated renewable energy projects in Italy, the USA, Canada, China, and the Philippines. AC Energy is the Ayala Group’s business arm in the energy sector, with investments in renewable energy and conventional power plants. AC Energy is a fast growing regional energy platform with development, operations and retail supply capabilities.
Other Relevant Information
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