Rockwell Land Corp. has secured a P15-billion term loan facility from the Bank of the Philippine Islands (BPI) to partially finance its capital expenditures and other general corporate requirements, the property developer disclosed in a stock exchange filing on Wednesday, as reported by BusinessWorld.
The loan proceeds will be used to partially fund the company's capital expenditure program and other general corporate purposes. Rockwell Land did not immediately provide specific details on the projects or initiatives to be supported by the facility.
The term loan is expected to support Rockwell Land's expansion and development activities. The company has been actively pursuing growth in its residential and commercial segments, with ongoing projects in Metro Manila and other key areas.