LISTED conglomerate Ayala Corp. has secured a social loan value €50 million (P3.1 billion) from European bank ING Group to support its subsidiary Ayala Healthcare Holdings, Inc.’s (AC Health) portfolio growth.
“As a world bank with deep expertise in sustainable finance, we’re proud to play a vital role in enabling Ayala to deal with pressing challenges within the healthcare sector,” ING Philippines Country Manager Jun Palanca said.
“This social loan marks a crucial milestone for ING and our partnership with Ayala Corp. ING’s commitment to sustainability goes beyond financing; it’s about empowering businesses to drive meaningful, long-term impact,” he added.
The €50-million social loan is the primary Euro-denominated social loan that ING has structured for a Philippine conglomerate.
The social loan is structured in adherence to the newest Social Loan Principles published by the Loan Market Association, Asia Pacific Loan Market Association, and the Loan Syndications & Trading Association, paving the way in which for other foreign banks, including European banking institutions, to are available in and take part in financing the expansion of sustainable projects within the Philippines.
“This social loan from ING will enable us not only to construct and scale our AC Health portfolio, but it would also enable us to serve more Filipinos by providing them access to quality and reasonably priced healthcare,” Ayala Corp. Chief Finance Officer Alberto M. de Larrazabal said.
Ayala Corp. recorded a 5% increase in its nine-month net income to P34 billion.
Core net income rose by 19% to P36.7 billion, led by its core units Bank of the Philippine Islands, Ayala Land, Inc., Globe Telecom, Inc., and AC Energy and Infrastructure Corp.
On the local bourse on Wednesday, shares dropped by 0.33% to shut at P2 each. — Sheldeen Joy Talavera
