Ayala, ING Bank Sign P3.1B Sustainable Finance Deal

Healthway Qualimed CFO Des Dalusong; AHCHI Pharma Ventures and IEM/MEI Director Johanna Romero; ING Head of Corporate Sector Lending Reuben Estrada; Ayala Senior Manager for Sustainable Finance Jhoanna Leoncio; ING Product Management and Development Lead Wing Bayoneta, Head of Corporate Sector Coverage and Financial Institutions Lenin Dueñas, and Country Manager and Head of Wholesale Banking Jun Palanca; and Ayala CFO Albert de Larrazabal, Treasurer Lito Biacora, and Head of Sustainable Finance Reggie Abrillo at the signing of the landmark Eurodenominated social loan on December 16

At Ayala, we always look for likeminded partners who believe in our purpose. This sustainable finance transaction from ING confirms our commitment to building businesses that enable people to thrive. 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.

ALBERT DE LARRAZABAL
AC Chief Finance Officer

Ayala Corporation has signed a €50-million (P3.1-billion) social loan from leading European bank ING to support AC Health's portfolio growth.

On December 16, Ayala Chief Finance Officer Albert de Larrazabal and Treasurer Estelito Biacora 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.

This social loan from ING comes at an opportune time, as AC Health continues to make strides in addressing significant pain points in the Philippine healthcare sector. Proceeds of the social loan are allocated to AC Health portfolio growth and capital expenditures for retail pharmacy and hospital, including QualiMed and St. Joseph Drug. This enables Ayala, through AC Health's integrated healthcare ecosystem, to continue providing accessible, affordable, and quality healthcare to all Filipinos.

"Sustainable finance will continue to support Ayala’s new businesses. The ING P3.1 -billion deal confirms Ayala’s strong credit reputation and our access to competitive cost of capital through financial innovation," said Biacora.

The €50 million social loan is the first Euro denominated social loan that ING has structured for a Philippine conglomerate. The social loan is structured with adherence to the latest Social Loan Principles published by the Loan Market Association, Asia Pacific Loan Market Association, and the Loan Syndications & Trading Association, paving the way for other foreign banks, including European banking institutions, to come in and participate in financing the growth of sustainable projects in the Philippines.