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GOT IT

Pueblo De Oro Development Corp. Closes P300M Loan with UCPB

UCPB

IN PHOTO (L-R) are ICCP CEO William M. Valtos, Jr., ICCP Group Vice-President and Treasurer Rhodora C. Lao, PDO Senior Vice President Leonardo B. Dayao, PDO President and COO Rhoel Alberto B. Nolido, UCPB FVP & Corporate and Commercial Banking Group Head Carina Francesca C. Uy, UCPB AVP and CCBG-MM1 Team Milagros A. Cruz, UCPB AVP and CCBG-MM1 Relationshop Manager Marie Angela G. Ng, and ICCP Managing Director Felicisimo G. Falcon, Jr.

Pueblo De Oro Development Corporation (PDO), a leading middle market real estate developer, recently achieved financial close of its P300 million seven-year unsecured term loan with the United Coconut Planters Bank (UCPB).

The loan facility was arranged by the Investment & Capital Corporation of the Philippines (ICCP), one of the leading independent investment banking firms in the Philippines. PDO has over 20 years of experience in residential and mixed use projects in Cagayan De Oro, Cebu, Batangas, and Pampanga.

“We consider this unsecured loan from UCPB as a milestone for our Company,” Rhoel Alberto B. Nolido, PDO’s president and COO stated. “The successful fund raising confirms the financial community’s vote of confidence to Pueblo De Oro. The proceeds will be put to good use as we continue to achieve our goal of making Pueblo De Oro a formidable brand in the real estate industry while reflecting its core values of integrity, excellence, service and commitment,” he added.

The company disclosed that the proceeds of the term loan facility will be utilized mainly to support the Company’s ongoing capital expenditure program for its existing and upcoming residential and mixed-use projects nationwide.

Carina Francesca G. Uy, first vice president and Corporate and Commercial Banking Group head of UCPB, stated:

“We are happy that with this new term loan facility, we can continue to show our commitment to support the growth of PDO as one of the top real estate companies in the country.”

William M. Valtos, Jr., ICCP CEO, and Felicisimo G. Falcon, Jr., managing director, jointly said,

“We at ICCP are honored to have acted and served as the Arranger of this debt raise which will certainly contribute to the successful execution of Pueblo De Oro’s strategic plans. We appreciate the confidence Pueblo De Oro showed to ICCP, and we look forward to working with the company and UCPB on future transactions.”

ICCP has over 30 years of experience in providing a wide range of clients expertise in debt capital market, mergers and acquisitions, financial advisory, and equity capital markets.

Source: Business World