- Advertisement -
Pilipinas Shell Petroleum Corp. (PSPC) secured a P6-billion medium term loan with the Bank of the Philippines Islands to replace an existing P6- billion short-term loan.
In a disclosure to the Philippine Stock Exchange, PSPC said the loan with a drawdown date of Dec.20, 2021 was secured after a competitive tender process and the endorsement and approval of its Related Party Transaction Committee and Board.
PSPC said the loan will also reduce its exposure to short-term volatilities in the market while maximizing the low interest rate for its cash requirements but assured that it will not impact the gearing level of the company. – Jed Macapagal
- Advertisement -
