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June 27, 2013

AUB extends P900-million credit facility to Roxas Holdings


Roxas Holdings, Inc. (RHI) signed yesterday a P900-million credit facility with universal bank Asia United Bank (AUB).
 
The credit facility consisted of omnibus lines of P450 million each to RHI subsidiaries Central Azucarera Don Pedro, Inc. (CADPI) in Batangas and Central Azucarera de la Carlota, Inc. (CACI) in Negros Occidental.
 
RHI Executive Chairman Pedro E. Roxas said the lines granted by AUB, together with the Group’s free cash flow, will enable the company to grow its business and improve its operational efficiencies.
 
RHI PCEO Renato C. Valencia thanked AUB for its trust and confidence in the Group and promised to uphold such in the future.
 
Meanwhile, AUB President Abraham T. Co commended the partnership between the sugar group and the banking arm of the Rebisco Group of Companies. “The credit facility that AUB granted to RHI will nurture the strong relationship between the two companies and foster more collaboration in the future as AUB supports RHI’s vision to be globally-competitive,” Mr. Co said.
 
In another development, AUB also granted a P200-million credit facility to RHI’s sister company, Roxaco Land Corporation – the property arm of Roxas & Company, Inc.
 
Mr. Roxas, who is also the President and CEO of Roxaco, said the Group will use the credit facility in its continuing expansion projects that spill over from Batangas to other key tourist destinations in the Philippines.


Roxas Holdings, Inc. (RHI), a bio-sugar and bio-energy company, is the largest integrated sugar business in the Philippines. It manages sugar miller/refiner Central Azucarera Don Pedro, Inc. in Nasugbu, Batangas; San Carlos Bioenergy, Inc. in San Carlos, Negros Occidental; and RHI Agri-business Development Corporation.

RHI is listed in the Philippine Stock Exchange (PSEi: ROX). Further information can be obtained by visiting the web at www.roxasholdings.com.ph