Ayala group and International Finance Corporation (IFC) yesterday held a closing ceremony for the 10-year social bond – for which IFC invested $100 million – earmarked for the sustainable and resilient growth as well as capacity building of AC Health.
“This private placement by the IFC is a crucial component of Ayala’s largest sustainability agenda. This will add value to Ayala and AC Health’s mission to expand access to healthcare through digital technology as well as physical assets, including primary and multispecialty clinics, and a dedicated cancer hospital that is currently under construction,” said Fernando Zobel de Ayala, president and chief executive officer of Ayala Corp.,
Zobel added the goals of the investment are aligned with the group’s sustainability agenda, particularly its contribution to the United Nation’s Sustainable Development Goal 3–Good Health and Well- Being.
The $100 million social bond, which is first of its kind earmarked for healthcare-related purposes in the Philippines, will be unconditionally and irrevocably guaranteed by AC.
Jean-Marc Arbogast, IFC country manager for the Philippines, said the private placement fits IFC’s goals in the country, which includes strengthening human capital through healthcare.
The Social Bond Program by IFC aligns with the Social Bond Principles and Social Loans Principles published by the International Capital Market Association. Sustainalytics was engaged to provide a second-party opinion on the framework.
