Ayala Land Inc. said it may sell bonds due in 25 years, the longest maturity for any Philippine corporate debt, as the nation’s largest builder seeks to raise 21 billion pesos ($486 million) to help fund expansion.
The Philippines and Indonesia will probably refrain from monetary tightening to protect their economies from a regional growth slowdown that’s sparked capital outflows and driven down stocks and currencies.
Philippine billionaire Henry Sy will merge property units and assets under SM Prime Holdings Inc. this year that will create the country’s biggest developer with at least $14 billion in market capitalization.
Emerging-market stocks fell, dragging the benchmark index toward its biggest monthly loss in a year. Philippine equities tumbled the most in 20 months and South Africa’s rand traded weaker than 10 per dollar for the first time since March 2009.