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Pepsi-Cola gets P1B term loan from Metrobank

Beverage-maker Pepsi-Cola Products Philippines Inc. (PCPPI) has tapped a P1-billion term loan from Metropolitan Bank and Trust Co. to fund capital spending for this year.

In a disclosure to the Philippine Stock Exchange on Wednesday, Pepsi chief finance officer Imran Moid said: “This loan further affirms the confidence of a major Philippine bank, one of the largest in the country, in the strong outlook/prospects, performance and financial stability of PCPPI.”

The loan facility from Metrobank will have a seven-year tenor, said Jika Dalupan, head of investor relations at PCPPI.

Moid said 2012 was a strong year for PCPPI, which posted a double-digit revenue growth and nearly triple profit growth for the period.

“We have carried the momentum in 2013 and expect a good year supported by favorable economic macro (economic fundamentals) and elections,” Moid said.

Dalupan said the loan proceeds would be used for this year’s requirements but added that PCPPI was expected to benefit from such investments—such as in machinery and glass bottles—in the coming years.

“Suffice to say that it is meant to support our growth momentum, to cover increase in manufacturing capacity and distribution assets,” Dalupan said.—Doris C. Dumlao

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Tags: Bank , Business , capex , loan , Metrobank , Metropolitan Bank and Trust Co. , Pepsi-Cola , Philippines

  • http://profile.yahoo.com/ZLZF3S4KAAM7FT2FOFQBQUHEMM Lahi

    Are these foreign companies bringing in investmments? Why are they taking loans from Philippine banks. Making sense, isn’t it? Lol! Better lend the money to local companies.

  • Karabkatab

    The past weeks the news mentioned that coca-cola was expanding, and Now pepsi is doing the same.  Haissst., umiinom pa ba kayo ng cola? tubig at asukal lang yan.  Bad for the health.  Buti pa buko juice na lang o kaya kalamansi ang inumin natin. Local, mura at healthy pa…

  • http://www.facebook.com/pages/TV-Shows-Online/433998430000984 Angel Divera

    Why it is hard to find pepsi now in local stores?

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