December 22, 2024 | 12:00am
MANILA, Philippines — Independent investment house Investment & Capital Corp. of the Philippines (ICCP) has arranged a P1.25-billion loan facilities for Pueblo de Oro Development Corp. (PDO), the residential development arm of the ICCP Group.
In a statement, the ICCP said Pueblo de Oro has signed seven-year term loan agreements worth P500 million each with the Philippine Bank of Communications (PBCOM) and the Bank of the Philippine Islands (BPI), which also provided a P250-million short-term working capital line.
ICCP said the proceeds from the loan facilities would finance the expansion plans of Pueblo de Oro’s key projects, including its township and residential developments in Cagayan de Oro as well as Pueblo de Oro Townscapes Malvar, Pueblo de Oro Courtyards Lipa in Batangas, and subdivisions in Pueblo de Oro Pampanga.
“ICCP is proud to support Pueblo de Oro on its mission to develop climate-adapted townships,” ICCP chairman and CEO Valentino Bagatsing said.
“These partnerships with PBCOM and BPI strengthen PDO’s commitment to fostering sustainable countryside development,” he said.
PDO president and chief operating officer Prim Nolido said the loan would help the company continue its efforts to develop exceptional living spaces.
“We are excited to partner with PBCOM and BPI to further our mission of creating high-quality residential communities. This financing will enable us to continue developing exceptional living spaces that meet the needs and aspirations of Filipino families,” Nolido said.
ICCP said the loan agreements underscore Pueblo de Oro’s commitment to expanding its residential development portfolio across the Philippines, providing more Filipinos access to well-planned, sustainable homes and communities.
ICCP, which is a member of the ICCP Group, is one of the leading independent licensed investment houses in the country, offering a full range of investment banking services from raising capital in the debt and equity markets to financial advisory services including mergers and acquisitions.
ICCP caters to large and mid-sized companies in the Philippines, with access to the boardrooms of many large corporations in the country, as well as emerging business ventures. Furthermore, ICCP routinely advises international investors looking to enter the Philippine market or divest existing Philippine holdings.
Since its founding, ICCP has fostered a culture focused on upholding the highest standards of quality, integrity and ethics. Additionally, as an independent firm, it is able to avoid the conflicts of interest that may emerge in other financial institutions.
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