Ayala Corp. has signed a €50 million (approximately P3.1 billion) social loan agreement with ING, aimed at supporting the growth of its healthcare arm, AC Health. The deal, finalized on 16 December, will fund capital expenditures for AC Health’s retail pharmacy and hospital networks, including QualiMed and Joseph Drug.
The agreement marks ING’s first euro-denominated social loan for a Philippine conglomerate, and adheres to the latest social loan principles, paving the way for increased participation in financing sustainable projects in the Philippines.
Ayala CFO Albert de Larrazabal emphasized the strategic importance of the loan in scaling AC Health’s integrated healthcare ecosystem, which is focused on providing accessible and affordable healthcare across the country.
ING’s Philippines Country Manager Jun Palanca noted the bank’s commitment to sustainability, stating, “This social loan is a milestone in our partnership with Ayala, helping address pressing healthcare challenges.”
