Century Property taps P4.2B in dual currency loan
By Doris C. Dumlao
Property developer Century Property Group has tapped a dual-currency term loan facility worth P4.2 billion to curb borrowing cost and boost funding for its residential projects.
Property developer Century Property Group has tapped a dual-currency term loan facility worth P4.2 billion to curb borrowing cost and boost funding for its residential projects.
The World Bank has approved the extension of a $300-million loan to the Philippines to support the country’s efforts to attract investments and reduce the incidence of poverty.
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.
Toledo Power Co., a subsidiary of the Metrobank group’s Global Business Power Corp., has secured a P7-billion loan to fund the ongoing construction of its 82-megawatt coal-fired power plant in Toledo City, Cebu.
Ayala-led Globe Telecom has tapped a Japanese bank to fund part of its nationwide network modernization for 2013, the company said on Thursday.
Water concessionaire Maynilad Water Services Inc. is borrowing P5 billion to P6 billion this year to fund new projects and pre-pay certain loans to take advantage of the low interest rate environment.
Hong Kong-based First Pacific Co. Ltd. has extended a $200-million loan to Philex Mining Corp. to pave the way for the resumption of mining operations at the Padcal mine in Benguet.
Interior Secretary Mar Roxas said the Philippine government will comply with a Chinese demand for repayment of a $500 million loan for a stalled railway.
The government’s decision to lend $1 billion to the International Monetary Fund (IMF) was just so it could get “pogi points,” Retired Archbishop Oscar Cruz said Thursday.
Ongpin-led Philippine Bank of Communications (PBCom) hopes to settle its P7.6-billion loan from Philippine Deposit Insurance Corp. before the end of this year as the bank enters its third consecutive profitable year, company chair Roberto V. Ongpin said.
Southwest Luzon Power Generation Corp., a wholly owned subsidiary of Semirara Mining Corp., has secured an P11.5-billion syndicated term loan to finance its planned 300-megawatt coal facility in Batangas.
Clark International Airport Corp. (CIAC) and Land Bank of the Philippines recently signed a P1-billion loan facility for the second phase of the expansion of Clark International Airport’s passenger terminal.
