Security Bank Corp. granted a P2.560-billion credit support for the industrial park developer — Science Park of the Philippines, Inc. (SPPI), and P960-million for the residential and mixed-use property developer — Pueblo de Oro Development Corp. (PDO). The loan proceeds will be used to fund the new and expansion projects of SPPI and PDO — both member companies of the ICCP Group. The Loan Agreement signifies the start of a strong partnership between Security Bank Corp. and the ICCP Group of Companies built upon common values and goals.
The credit facilities were arranged by Investment & Capital Corporation of the Philippines (ICCP), one of the country’s leading independent investment houses.
SPPI is highly regarded as one of the pioneers and leaders in private industrial estate development in the country, with nearly 1,500 hectares of industrial estates developed and under development.
SPPI’s industrial parks are strategically located in Laguna (Cabuyao and Calamba), Batangas (Santo Tomas and Malvar), Lapu-Lapu City and Hermosa, Bataan. Upcoming industrial estate locations are San Jose, Batangas and Tarlac City. SPPI is also partnering with the Bases Conversion and Development Authority (BCDA) to develop a 100-hectare industrial park in New Clark City, Tarlac.
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