Restaurant chain operator Jollibee Foods Corp. plans to tap the offshore financial market for another fund-raising activity to boost liquidity as the COVID-19 pandemic hammers the economy.
Jollibee said in disclosure to the stock exchange unit Jollibee Worldwide Pte. Ltd. hired Citigroup, Goldman Sachs, J.P. Morgan and Morgan Stanley as joint global coordinators and Citigroup, Goldman Sachs, J.P. Morgan, Morgan Stanley, BPI Capital Corp., Credit Suisse and UBS as joint lead managers and joint bookrunners to arrange a series of fixed income investor calls starting June 17.
Jollibee said Regulation S US-dollar guaranteed senior perpetual capital securities offering might follow subject to market conditions.
“Proceeds from the contemplated offering will be used for general corporate purposes, intended as a precautionary measure from unforeseen eventualities that may be caused by the COVID-19 pandemic, as well as fund initiatives of the group,” the company said.