Ayala Corp. has secured a €50 million, or about P3.1 billion, social loan with European banking leader ING to support AC Health’s portfolio expansion.

The agreement, finalized early this year, included Ayala’s Chief Finance Officer Albert de Larrazabal and Treasurer Estelito Biacora, along with ING representatives Jun Palanca, Country Manager for ING Philippines, and Lenin Dueñas, Head of Corporate Sector Coverage and Financial Institutions for ING Philippines.

The proceeds of the social loan will be used to fund AC Health’s portfolio expansion and capital expenditures for retail pharmacy and hospital operations, including its investments in QualiMed and Joseph Drug.

The strategic financing will enable Ayala, through AC Health’s integrated healthcare ecosystem, to continue its mission of providing accessible, affordable, and high-quality healthcare to Filipinos.

“This social loan marks an important milestone for ING and our partnership with Ayala Corporation,” said Jun Palanca, Country Manager for ING Philippines.

“As a global bank with deep expertise in sustainable finance, we are proud to play a crucial role in enabling Ayala to address pressing challenges in the healthcare sector. ING’s commitment to sustainability goes beyond financing; it is about empowering businesses to drive meaningful, long-term impact.”

The €50 million social loan is the first Euro-denominated social loan structured by ING for a Philippine conglomerate.

The loan adheres to the latest Social Loan Principles published by the Loan Market Association, the Asia Pacific Loan Market Association, and the Loan Syndications & Trading Association.