Specifically, proceeds will fund capital expenditures for AC Health’s network, including investments in QualiMed hospitals and Joseph Drug pharmacies, the country’s oldest conglomerate said in a statement on Wednesday.
Management’s view
“At Ayala, we always look for like-minded partners who believe in our purpose. This sustainable finance transaction from ING confirms our commitment to building businesses that enable people to thrive,” said Ayala chief financial officer Albert de Larrazabal.
“This social loan from ING will enable us not only to build and scale our AC Health portfolio, but it will also enable us to serve more Filipinos by providing them access to quality and affordable healthcare,” he added.
Landmark deal
According to Ayala, the transaction marks the first euro-denominated social loan structured for a Philippine conglomerate, adhering to global Social Loan Principles. The deal highlights Ayala’s commitment to addressing critical gaps in the healthcare sector by providing affordable and accessible services to Filipinos.
Advancing Philippine healthcare
Apart from Larrazabal, other key officers present during the deal signing included treasurer Estelito Biacora, who finalized the deal with ING, represented by Jun Palanca, country manager for ING Philippines, and Lenin Dueñas, head of corporate sector coverage and financial institutions 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,” Palanca said.
“This social loan marks an important milestone for ING and our partnership with the Ayala Corp. ING’s commitment to sustainability goes beyond financing; it is about empowering businesses to drive meaningful, long-term impact,” he added.
