Ayala raises $200M from Samurai debt debut

From left: Sumitomo Mitsui Banking Corp. (SMBC) Manila branch executive director and head of corporate banking Ruben Victa, Ayala Corp. treasurer Estelito Biacora, SMBC country head and managing director Yasushi Iwata, Ayala Corp. chief finance officer Alberto de Larrazabal, Mizuho Bank general manager Masaaki Wada and Mizuho Bank joint general manager Yasunori Iwamoto during the signing ceremony of Ayala’s first yen-denominated Samurai loan on March 19, 2025.

MANILA, Philippines — Ayala Corp. has obtained its first yen-denominated loan worth $200 million as Zobel-family led conglomerate looks at expanding its core businesses ahead of its 200th anniversary.

In a statement on Thursday, Ayala said it had signed a term loan agreement with Mizuho Bank Ltd. and Sumitomo Mitsui Banking Corp.

“The proceeds will be used for general corporate purposes,” the country’s oldest conglomerate said.

This came after Ayala was given an “A-“ foreign currency long-term issuer rating by the Japan Credit Rating Agency Ltd., allowing the company to tap yen loans for the first time.

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