Ayala secures P3.1 billion loan from ING for Philppine health care

MANILA, Philippines — Ayala Corp., the country’s oldest conglomerate, is poised to ramp up its investments in advancing healthcare growth in the Philippines after securing a social loan from Dutch financial giant ING amounting to P3.1 billion (€50 million).

The social loan, which will support the portfolio growth of Ayala’s healthcare arm AC Health, is the first euro-denominated social loan that ING has structured for a Philippine conglomerate.

“At Ayala, we always look for like-minded partners who believe in our purpose. This sustainable finance transaction from ING confirms our commitment to building businesses that enable people to thrive,” Ayala CFO Albert de Larrazabal said.

“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,” he said.

According to the conglomerate, the loan comes at an opportune time as AC Health continues to make strides in addressing significant pain points in the country’s healthcare sector.

Ayala said the loan would enable the group, through AC Health’s integrated healthcare ecosystem, to continue providing accessible, affordable and quality healthcare to all Filipinos.

The proceeds will be allocated to grow the AC Health portfolio as well as to finance the capital expenditures of retail pharmacy and hospital, including QualiMed and Joseph Drug.

ING Philippines country manager Jun Palanca said the loan marks an important milestone for ING and its partnership with Ayala.

The 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 and Trading Association.

It paves 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.

“As a global bank with deep expertise in sustainable finance, we are proud to play a crucial role in enabling Ayala to address pressing challenges in the healthcare sector,” Palanca said.

“ING’s commitment to sustainability goes beyond financing; it is about empowering businesses to drive meaningful, long-term impact,” he said.

AC Health was established in 2015 as a wholly owned subsidiary of Ayala with the aim of providing Filipinos accessible, affordable and quality healthcare.

Its portfolio includes Generika Drugstore, the pioneer in generic retail pharmacies; St. Joseph Drug, a leading retail drugstore chain in North Luzon; IE Medica and MedEthix, a major pharmaceutical importer and distributor; Healthway Medical Network, a network of multi-specialty clinics, ambulatory centers and full-service hospitals; and KonsultaMD, a healthcare aggregator app that offers online consultations, medicine delivery and clinic and diagnostic booking.