BDO signs $280-M loans with Ce­mex

Sun.Star Pampanga - - BUSINESS! -

BDO, Ce­mex sign $280-M Term Loan. BDO signed a US$280-Mil­lion Peso equiv­a­lent term loan agree­ment with Ce­mex Hold­ings Philip­pines Inc. (CHP), with the ce­ment firm us­ing the fa­cil­ity to re­fi­nance its long-term loan obli­ga­tion with New Sun­ward Hold­ing B.V. Present dur­ing the sign­ing cer­e­mony were(from left to right): Mary Ann Hipe, CHP trea­sury man­ager; Ed­mundo So­ri­ano, BDO Uni­bank ex­ec­u­tive vice pres­i­dent; Pe­dro Jose Palomino, CHP pres­i­dent; Wal­ter Wass­mer, BDO se­nior ex­ec­u­tive vice pres­i­dent; Vin­cent Paul Piedad, CHP trea­surer; and Ma. Con­cep­cion Nar­ciso, BDO first vice pres­i­dent.

BDO Uni­bank, the coun­try’s big­gest lender, has signed a US$280Mil­lion Peso equiv­a­lent term loan agree­ment with Ce­mex Hold­ings Philip­pines Inc. (CHP), an in­di­ca­tion of the Bank’s firm sup­port for the busi­ness prospects and pos­i­tive long-term out­look of CHP.

"We've been to­gether from the boom of the ce­ment in­dus­try, to the bust and then to the boom again. We are happy that Ce­mex has once again cho­sen BDO to be its part­ner," said Wal­ter Wass­mer, se­nior ex­ec­u­tive vice pres­i­dent of BDO.

For his part,CHP Pres­i­dent Pe­dro Jose Palomino said they ap­pre­ci­ate the sup­port BDO has ex­tended to the ce­ment firm. "We are pleased with the help and re­la­tion­ship," he said.

The con­tin­ued growth of CHP’s sub­sidiaries, Apo Ce­ment and Solid Ce­ment, has made its Philip­pine op­er­a­tions as the most prof­itable in the Asian re­gion. CHP launched a very suc­cess­ful ini­tial public of­fer­ing (IPO) last year where a to­tal of 2,337,927,954 shares were sub­scribed at P10.75 per share, giv­ing the com­pany roughly P25 billion in IPO pro­ceeds.

BDO signed a US$280-Mil­lion Peso equiv­a­lent term loan agree­ment with­Ce­mex Hold­ings Philip­pines Inc. (CHP), with the ce­ment firm us­ing the fa­cil­ity to re­fi­nance its long-term loan obli­ga­tion with New Sun­ward Hold­ing B.V. Present dur­ing the sign­ing cer­e­mony were(from left to right): Mary Ann Hipe, CHP trea­sury man­ager; Ed­mundo So­ri­ano, BDO Uni­bank ex­ec­u­tive vice pres­i­dent; Pe­dro Jose Palomino, CHP pres­i­dent; Wal­ter Wass­mer, BDO se­nior ex­ec­u­tive vice pres­i­dent; Vin­cent Paul Piedad, CHP trea­surer; and Ma. Con­cep­cion Nar­ciso, BDO first vice pres­i­dent.

Newspapers in English

Newspapers from Philippines

© PressReader. All rights reserved.