Ayala Corporation has recently signed sustainability-linked credit facilities with MUFG Bank, Ltd. (MUFG) and Sun Life Philippines to reaffirm the company’s commitment to sustainable financing initiatives. These credit facilities have an aggregate amount of P5 billion.
This landmark transaction by a Philippine conglomerate aims to support Ayala Corporation’s general corporate requirements and investments in sustainability-related projects.
Photo shows Alberto de Larrazabal (4th from left), Chief Finance Officer of Ayala Corporation, together with top executives of MUFG Bank, Ltd. and Sun Life Philippines, during the signing ceremonies for sustainability-linked credit facilities with MUFG and Sun Life Philippines
Jaime Urquijo, Chief Sustainability and Risk Officer of Ayala Corporation, and Alberto de Larrazabal, Chief Finance Officer of Ayala Corporation, led the signing ceremony to commemorate the execution of the sustainability-linked credit facilities.
Joining them during the signing ceremonies were Colin Chen, Head of ESG Finance of MUFG Asia Pacific, and Michael Gerard Enriquez, the president of Sun Life Investment Management and Trust Corporation (SLIMTC).
Serving as witnesses to the transaction were Estelito Biacora, Treasurer of Ayala Corporation; Marie Diana Lynn Singson, Managing Director, Deputy Country Head, and Head of Global Corporate and Investment Banking of MUFG Manila; Candy Esteban, Chief Finance Officer of Sun Life Philippines; and Ritchie Ryan Teo, Chief Investment Officer of SLIMTC.
A landmark deal to establish sustainability-related projects
“MUFG’s role as the sole sustainability coordinator for this transaction underpins Ayala Corporation’s trust in our established sustainability-related projects,” Chen said in a press statement.
“We are honored to have cultivated a long working relationship with Ayala Corporation over the years. Ayala Corporation has been very forward-thinking in its sustainability journey, and we are grateful to be partnering with them on this milestone,” Chen added.
For his part, Enriquez said, “As a stand-alone trust company, we are thrilled to be part of this landmark deal with Ayala Corporation as we continue to fund sustainability projects on behalf of our clients.”
The sustainability linked-credit facilities are aligned with the sustainability goals of MUFG, Japan’s largest bank, and Sun Life Philippines, the country’s first and longest-standing life insurer. They are also in line with Ayala Corporation’s value creation framework anchored on its commitment to sustainability.
Larrazabal described the sustainability deal with both MUFG and Sun Life Philippines as “a pioneering transaction that will enable Ayala Corporation’s net-zero ambition and benefit future generations. “
As Ayala Corporation celebrates its 190th year of existence, our children’s children will look back at this day and say that we pioneered a credit facility that will support environmentally and socially sustainable economic activity and growth,” Larrazabal further said.
