Rockwell Land board OK’s P5-B loan facility with BDO to fund capex projects
THE BOARD of Rockwell Land Corp. has approved a P5-billion term loan facility with BDO Unibank, Inc. to fund its projects, the listed property developer announced on Thursday.
The loan will have a term of up to ten years, Rockwell Land said in a disclosure.
“The proceeds of the loan will be used to fund capital expenditures, land acquisitions, and other investments,” the company said.
The latest loan funding of Rockwell Land with BDO comes after the company’s board approved a P5-billion loan facility with Metropolitan Bank & Trust Co. in January.
The loan has a term of up to seven years and will be also used to fund capital expenditures, land acquisitions, and other investments.
Rockwell Land is the real estate unit of Lopez-led First Philippine Holdings Corp. The company has properties in the residential, office, retail, and leisure segments.
Some of the Rockwell Land’s properties include Rockwell Center and Power Plant Mall in Makati, as well as Rockwell Business Centers in Ortigas and Mandaluyong.
On Thursday, Rockwell Land shares were unchanged at P1.48 per share. — Revin Mikhael D. Ochave
