The Lopez Group’s Rockwell Land Corporation has recently obtained P10 billion in financing from the Philippine National Bank (PNB) and Rizal Commercial Banking Corporation (RCBC).
In a disclosure to the Philippine Stock Exchange, the firm said it has secured a P5-billion term loan facility of up to ten years from PNB. The proceeds of the loan will be used to fund capital expenditures, land acquisitions, and other investments.
Rockwell said its board of directors has also approved a P5-billion term loan facility of up to seven years with RCBC which will also be used to fund capital expenditures, land acquisitions, and other investments.
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The article was originally published in Manila Bulletin and written by James A. Loyola.
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