Monday 16 July
Powered by Ajaxy
Dec 15, 2017 @ 16:32

Apex Mining prepays P2.25B loan


Apex Mining Co. Inc. drew down P2.5 billion under a seven-year term loan facility with the Philippine National Bank.

The money would be used primarily to immediately prepay the mining firm’s outstanding short-term loan of P2.25 billion with BDO Unibank Inc. This effectively converts part of the company’s short-term bank loan obligations into long-term, thereby improving Apex Mining’s financial position.

Apex has other outstanding short-term bank loans with Union Bank of the Philippines for $8 million (P407 million) and the Rizal Commercial Banking Corp. (P405 million).

Tags: , , , , , ,

Related Stories
After more than two decades, the Aboitiz family's Union Bank of the Philippines finally paid
This lender is really beefing up its digital banking group.
Real-time transfers will be on pause for an hour.
Union Bank of the Philippines President and Chief Executive Officer Edwin Bautista has welcomed the


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.