By JAMES A. LOYOLA Jollibee Foods Corporation (JFC) is planning to raise fresh capital through the issuance of fixed income securities through wholly owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL) to refinance short-term debts for the acquisition of the Coffee Bean & Tea Leaf (CBTL) business. In a disclosure to the Philippine Stock Exchange, Jollibee said JWPL has mandated Citigroup Global Markets Singapore Pte. Ltd. and J.P. Morgan (S.E.A.) Limited as Joint Global Coordinators for the planned issuance. Citigroup, Credit Suisse, J.P. Morgan, and Mizuho Securities were also named as Joint Lead Managers and Joint Bookrunners. They will to arrange a series of fixed income investor meetings in Hong Kong, Singapore, and London commencing on January 13, 2020. A Reg S only U.S. dollar-denominated guaranteed Senior Perpetual Capital Securities offering may follow subject to market conditions. “Proceeds from the contemplated offering are intended primarily to refinance the short-term debt from the acquisition of International Coffee and Tea, LLC (The Coffee Bean & Tea Leaf), completed on September 24, 2019, as well as fund initiatives aligned with Issuer’s general corporate purposes,” Jollibee said. It noted that, “the securities will be accounted for as equity, and will strengthen the balance sheet of the Guarantor, in line with its policy of prudent financial management.” Jollibee acquired 100 percent of The Coffee Bean & Tea Leaf specialty coffee and tea brand (CBTL), based in Los Angeles, California, USA for US$350 million. Initially, JFC through JWPL financed the entire acquisition through a bridge loan.