Homegrown fast-food giant Jollibee Foods Corp. (JFC) is set to tap the overseas debt market to support its ambitious global expansion plans. The company aims to raise funds through a Regulation S dollar-denominated bond offering, with a five-year tenor, according to its latest stock exchange filing.
The bond issuance will be facilitated through Jollibee Worldwide Pte. Ltd., a wholly owned subsidiary of JFC. The offering consists of senior unsecured notes, which means they are not backed by specific collateral but are guaranteed, ensuring repayment even in case of default.
To manage the bond issuance, JP Morgan Securities Asia Private Ltd. and Morgan Stanley Asia (Singapore) Pte. will act as joint global coordinators and joint bookrunners. Meanwhile, BPI Capital Corp. and The Hongkong and Shanghai Banking Corp. Ltd., Singapore will serve as joint lead managers and bookrunners.
Investor meetings for the offering began on Monday, as JFC moves forward with its P21-billion capital expenditure for 2024. The company plans to open up to 800 new stores, bringing its total network to over 10,000 outlets worldwide. This expansion is part of JFC’s long-term strategy to solidify its presence in key international markets and further strengthen its position as a global fast-food powerhouse.