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$280-million 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,” said Palomino.
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.
By: Lou Ellen L. Antonio MARAWI CITY,-– Dubbed “Launching of Farm Mechanization Program and Turn Over of Special Area for Agricultural Development Projects,” the Department of Agriculture (DA) distributed farm inputs and equipment to provide livelihood assistance to the crisis-affected...