Jollibee Foods Corporation raises US$600 million from maiden bond offering
The company said that the offering was oversubscribed by almost 10 times the original securities amount.
Jollibee Foods Corporation (JFC), through its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd., has raised US$600 million from its senior perpetual capital securities offering in offshore capital markets.
This is the company’s first foray into the offshore capital markets since it went public in 1993.
In their recent disclosure, JFC said that the offering was oversubscribed by almost 10 times the original amount of US$400 million.
The five-year securities, now listed at the Singapore Exchange Securities Trading Ltd., have an initial distribution rate of 3.9%, non-call for five years and payable semi-annually.
Proceeds from the bond offering, as earlier revealed, would be used to pay their debts from the acquisition of The Coffee Bean & Tea Leaf. https://qsrmedia.asia/legal/news/jollibee-foods-corporation-may-seek-funds-offshore-financial-markets-pay-cbtl
