PHILCEMENT Corp. (PCC), a 60-percent-owned subsidiary of Phinma Corp. (PHN), announced that it availed of a term loan facility from the proceeds of PHN's bond issuance on September 16. The amount was set at P1 billion for one year and six months at the current market rate.
The loan was approved by the Board of Directors of PHN on Nov. 10, 2021 and Aug. 10, 2022, and is in line with the disclosed use of bond proceeds to support the growth of Phinma's strategic business units.
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