MPIC RAISES P10B FROM LOAN DEALS WITH 2 BANKS

Investments Corp. (MPIC) has entered into separate agreements with two banks to secure loan facilities worth a total of P10 billion.

In a disclosure on Wednesday, MPIC said it signed a 10- year of P5 billion each with BDO Unibank, Inc. and Union Bank of the Philippines on December 19, with the money to be used projects and for other general corporate purposes.

Last month, the company said income market next year to raise as much as P30 billion for its busi- nesses.

It also said it was allocating capital expenditures of P653 billion over which will be spent in 2018.

“Some of that will come from equity partners, approximately P90 billion [will] come from MPIC, some of it [will come] from project David Nicol has said.

MPIC is the conglomerate led by business tycoon Manny V. Pangilinan with investments in water, energy, telecommunications, infrastructure, hospitals, tollways, railways, and logistics, among others.