Jollibee Issues $600M in Offshore Bonds

Through Jollibee Worldwide Pte. Ltd. (JWPL), Jollibee is raising funds through the issuance of 5.5-year bonds and 10-year bonds to a total of $600 million US dollars.

The bonds will be payable semi-annually, and comprise of a $300 million US dollar issuance of 5.5-year bonds yielding 4.125% per annum and a $300 million US dollar issuance of 10-year bonds yielding 4.75% per annum.

The bonds are “Regulation S” only US dollar-denominated guaranteed senior notes. Regulation S securities refer to bonds or stocks that may not be offered, sold, or delivered within the U.S.

The notes are unrated and will be listed on the Singapore Exchange Securities Trading Ltd.

Citigroup, Goldman Sachs, J.P. Morgan, and Morgan Stanley acted as joint global coordinators, and Citigroup, Goldman Sachs, J.P. Morgan, Morgan Stanley, BPI Capital Corp., Credit Suisse and UBS acted as joint lead managers and joint bookrunners of the project.

Jollibee disclosed that the bonds are “intended as a precautionary measure from unforeseen eventualities that may be caused by the Covid-19 pandemic, as well as fund initiatives of the JFC and its group of companies.”