Jollibee lowers bond issuance cost to attract investors

Jollibee Foods Corp. (JFC), a major fast-food company in the Philippines, successfully lowered the price of its $300 million bond offer due to strong investor interest. The bonds, which have a fixed rate of 5.332 percent, will be paid twice a year over five years. The bond offer drew more than $2 billion in orders, reflecting confidence in JFC's financial health and growth potential. This high demand allowed JFC to reduce its borrowing costs by 35 basis points from the initial price. The bonds will be issued by Jollibee Worldwide Pte. Ltd. and listed on the Singapore Exchange. The funds raised will help JFC repay a short-term loan used for a previous bond redemption. This marks JFC's first dollar bond issuance since 2020.