ROXAS and Company Inc. has secured a term loan facility of up to P1.932 billion from China Banking Corp. to refinance existing obligations.
In a disclosure to the stock exchange on Monday, Roxas and Co. said it entered into an omnibus loan and security agreement with Chinabank last Thursday.
The term loan facility involves an aggregate principal amount of up to P1.932 billion.
Aside from refinancing existing loan obligations, part of the proceeds will also be used for general corporate purposes, Roxas and Co. said.
The company did not disclose the specific loans to be refinanced, the facility’s maturity, interest rate or other financial terms.
Shares of the company slipped P0.06, or 2.32 percent, to close at P2.53 each on Monday amid a 0.21-percent rise for the benchmark Philippine Stock Exchange index.