UCPB loan funds Pueblo De Oro projects

UCPB extended a P300-million, seven-year term loan to middle market real estate developer Pueblo De Oro Development Corporation (PDO) to fund its various real estate projects in Batangas, Pampanga, Cagayan de Oro and Cebu. The loan facility was arranged by the Investment & Capital Corporation of the Philippines (ICCP), a leading independent investment banking firm in the Philippines.

UCPB First vice president and Corporate and Investment Banking Group head Carina C. Uy formalized the agreement in a signing ceremony with PDO president and COO Rhoel Alberto B. Nolido, VP and treasurer Rhodora C. Lao, SVP and general manager Leonardo B. Dayao, Jr. at the Philamlife Tower on 10 January 2019. They were joined by ICCP CEO William M. Valtos, Jr. and ICCP managing director Felicisimo G. Falcon Jr.

Uy said UCPB is pleased to continue its good business partnership with PDO.

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

“There is at least a decade’s worth of meaningful credit history between UCPB and PDO, both in corporate and retail banking. 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,” she said.

“We consider this loan from UCPB as a milestone for our company. The successful fund raising confirms the financial community’s vote of confidence in 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,” Nolido said.

The proceeds of the term loan facility will be utilized to support its ongoing capital expenditure program for existing and upcoming residential and mixed-use projects nationwide such as La Aldea de Mar, Park Place, The Horizon Residences in Batangas, Pampanga and Cebu as well as The Enclave at Pueblo Golf in Cagayan de Oro.

In a joint statement, Valtos and Falcon said the ICCP is honored to have acted as arranger for the loan facility, “We are certain that this debt raise will 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.”