By Rebecca Melvin
New York, June 19 – Jollibee Worldwide Pte. Ltd., a wholly owned subsidiary of Jollibee Foods Corp., has priced a $600 million dual-tranche offering of 5.5-year and 10-year notes, according to a company news release.
The $300 million 5.5-year notes priced with a coupon of 4 1/8%, and the $300 million tranche of 10-year notes priced with a coupon of 4¾%.
Citigroup, Goldman Sachs, JPMorgan, Morgan Stanley, BPI Capital Corp., Credit Suisse and UBS acted as joint lead managers and joint bookrunners for the Regulation S deal.
Proceeds will be used for general corporate purposes, including unforeseen eventualities that may be caused by the Covid-19 pandemic, and to fund initiatives of the company’s group of businesses.
The company said it has sufficient cash of PHP 26.5 billion or $522.3 million as of March 31 to fund liquidity to support its operations on a continuing basis and to meet all its obligations.
This is the company’s second tap of the capital markets this year and its third since the company’s initial public offering in 1993.
The multinational chain of fast food restaurants is based in Pasig, Philippines.
| Issuer: | Jollibee Worldwide Pte. Ltd.
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| Guarantor: | Jollibee Foods Corp.
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| Issue: | Guaranteed senior notes
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| Amount: | $600 million
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| Bookrunners: | Citigroup, Goldman Sachs, JPMorgan, Morgan Stanley, BPI Capital Corp., Credit Suisse and UBS
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| Announcement date: | June 18
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| Distribution: | Regulation S
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| 5.5-year notes
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| Amount: | $300 million
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| Term: | 5.5 years
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| Coupon: | 4 1/8%
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| 10-year notes
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| Amount: | $300 million
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| Term: | 10 years
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| Coupon: | 4¾%
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