June 13, 2024

Costaalegre Restaurant

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Jollibee to Control Personal debt as Abroad Profits Arrive at Pre-Covid Amount

2 min read

Jollibee Meals Corp., the premier Philippine restaurant operator, is cutting its financial debt and funding expenditures by offering most well-liked shares and shopping for again some of its dollar money owed as its enterprises get well from the pandemic.

Jollibee will concern as significantly as 12 billion pesos ($250 million) of most popular shares which includes oversubscription, and will repurchase as much as $250 million of perpetual bonds this yr. It will also minimize its lender loans, the organization claimed in a stock trade filing, as it seeks to reinforce its stability sheet, unfold credit card debt maturity and lower overseas exchange pitfalls.

Jollibee claimed a internet income of 153 million pesos in the to start with quarter, swinging from a 1.68 billion pesos decline a 12 months in the past. It incurred about 594 million pesos in desire cost on loans.

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