News ICCP arranges 700 Million Syndicated Term Loan for Science Park of the Philippines, Inc.
ICCP acted as the Financial Adviser and Lead Arranger for the transaction. RCBC Trust and Investments Group will serve as the Facility Agent and DSRA Agent for the deal. Proceeds of the loan will be used to finance current and future development projects of SPPI, as well as to support the company’s corporate requirements.
Science Park of the Philippines formalizes syndicated term loan agreement with Development Bank of the Philippines and Rizal Commercial Banking Corporation. In photo at the virtual signing ceremony L-R Clockwise: SPPI Chairman & CEO Mr. Guillermo D. Luchangco, DBP President & CEO Mr. Emmanuel G. Herbosa, ICCP President & CEO Mr. Valentino S. Bagatsing, DBP First Vice President Mr. Francis Nicolas M. Chua, DBP Executive Vice President Mr. Jose Gabino D. Dimayuga, RCBC First Senior Vice President Ms. Elizabeth E. Coronel, RCBC Senior Vice President Mr. Antonio Manuel E. Cruz, Jr., RCBC Senior Vice President Ms. Bernice L. Gaspar, RCBC Trust First Senior Vice President Dr. Robert B. Ramos, RCBC Trust Assistant Vice President Mr. Joel B. Crystal, SPPI President & COO Mr. Richard Albert I. Osmond and SPPI Vice President and Treasurer Ms. Rhodora C. Lao.
Investment & Capital Corporation of the Philippines (ICCP) has successfully arranged a Php700 Million 7-year Syndicated Term Loan with the Development Bank of the Philippines (DBP) and Rizal Commercial Banking Corporation (RCBC) as Lenders, for Science Park of the Philippines, Inc. (SPPI).
In a virtual loan signing ceremony held last October 25, 2021, the Lenders expressed full support to SPPI and its endeavors. “SPPI is considered by the Bank as a strong ally in advancing our country’s economic development goals, and from this shared vision stems our immense gratitude and honor to be a lender of choice in this transaction. This strategic partnership is another significant step in supporting infrastructure development as we continue to tap opportunities to raise the level of competitiveness of our country” said DBP President & CEO Emmanuel G. Herbosa.
The same enthusiasm and positive outlook were echoed in the words of RCBC First Senior Vice President Elizabeth E. Coronel, “We look forward to more projects that will enhance the country’s attractiveness as an investment or manufacturing hub. Projects that will generate jobs, improve our competitiveness and make this country a better place to be in.”
As one of the leading private ecozone developers in the country, SPPI continues its evolution to thrive in the next normal. SPPI President Richard Osmond states “With the new funding support, SPPI will hasten building its inventory and improve its facilities to attract more global players and contribute to job creation particularly in the countryside.”