Global fastfood brand Jollibee Foods Corp. (JFC), through its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL), is preparing to tap the offshore bond market with a potential US dollar-denominated issuance.
The homegrown fastfood giant confirmed the plan in a stock exchange report on Monday as it aims to boost its financial position to support its aggressive global expansion and manage debt obligations.
However, JFC has yet to identify the amount it intends to raise from the bond offering.
By tapping international investors, Jollibee aims to diversify its funding sources, optimize its capital structure, and support its long-term growth in key markets worldwide.
P21B earmarked for 800 stores
This year alone, JFC plans to spend P21 billion this year to open up to 800 stores, pushing its network beyond the 10,000-store mark.
JFC said JWPL has mandated J.P. Morgan Securities Asia Private Limited and Morgan Stanley Asia (Singapore) Pte. as joint global coordinators and joint bookrunners, alongside BPI Capital Corp. and HSBC as joint lead managers and joint bookrunners, to arrange a series of fixed-income investor meetings starting 24 March.
The meetings could lead to a Regulation S-only five-year senior unsecured guaranteed notes offering, subject to market conditions.
