Jollibee Foods Corp. said it has raised $600 million through a senior notes issuance.
The company priced the guaranteed borrowings at 4.125 percent for the 5.5-year $300 million notes and 4.75 percent for the 10-year $300 million notes that will be listed with the Singapore Exchange Securities Trading Ltd.
The notes, to be issued by Jollibee unit Jollibee Worldwide Pte. Ltd., will be used for general corporate purposes, “intended as a precautionary measure from unforeseen eventualities that may be caused by the COVID-19 pandemic, as well as fund initiatives of Jollibee and its group of companies.”
This is the second international capital markets transaction from Jollibee this year, following its $600 million senior perpetual capital securities issued in January.
“This deal also represents the third time that Jollibee has tapped the capital markets since its Initial Public Offering in 1993,” the company said.
Citigroup, Goldman Sachs, J.P. Morgan and Morgan Stanley served as joint global coordinators, while Citigroup, Goldman Sachs, J.P. Morgan, Morgan Stanley, BPI Capital Corp., Credit Suisse and UBS acted as joint lead managers and joint bookrunners.
