AYALA Corp. has completed the early redemption of P6 billion worth of fixed-rate bonds due next year, a stock exchange filing showed on Tuesday.

Ayala Corp. earlier disclosed that holders of the 6.825-percent bonds issued in 2007 will be paid in cash at 100 percent of the issue price plus accrued and unpaid interest. The conglomerate will also pay bondholders an early redemption penalty of 0.5 percent.

Ayala Corp. is a listed holding firm with interests in real estate development, water infrastructure, telecommunications, electronics manufacturing, business process outsourcing and recently, power. Shares of the company declined 0.13 percent to P296.2 each on Tuesday.