Jollibee Foods Corporation (JFC), a leading food service company in the Philippines and one of the largest in Asia, announced that it had priced a US$300 million 5-year Regulation S only U.S. dollar-denominated senior unsecured guaranteed notes (the “Notes”) offering with a fixed coupon of 5.332 percent payable semi-annually.
The Notes will be issued by Jollibee Worldwide Pte. Ltd. (JWPL, the “Issuer”), a wholly owned subsidiary of JFC.
The Notes are unrated and will be listed on the Singapore Exchange Securities Trading Limited. As disclosed by JFC in its press release dated March 24, 2025, proceeds from the offering are intended for general corporate purposes and/or refinancing of JWPL’s existing borrowings. The Notes offering is expected to settle on or about April 2, 2025, subject to the satisfaction of customary closing conditions.
This landmark transaction represents JFC’s first return to the USD primary bond market since 2020. JFC is also the first Philippine corporate issuer to access the international bond market in 2025, garnering significant investor appetite with a final orderbook exceeding US$2bn, an oversubscription rate of c.7x, underscored by robust participation from high-quality international accounts alongside strong domestic support – a testament to investors’ confidence in JFC’s compelling credit story and global market appeal.
The significant investor demand played a key role in allowing JFC to tighten 35bps from initial price guidance, eventually landing at a spread of 125bps over the 5-year U.S. Treasury.
