BDO, Cemex sign $280M term loan

BDO Unibank signed a US$280-million peso equivalent term loan agreement with Cemex Holdings Philippines Inc. (CHP), an indication of the bank’s support for the business prospects and positive long-term outlook of CHP. The continued growth of CHP’s subsidiaries, Apo Cement and Solid Cement, has made its Philippine operations as the most profitable in the Asian region. CHP launched a successful initial public offering (IPO) last year where a total of 2,337,927,954 shares were subscribed at P10.75 per share, giving the company roughly P25 billion in IPO proceeds. PR

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