Primex secures P300-M loan from Metrobank

ABS-CBN News

Posted at Mar 09 2015 01:14 PM | Updated as of Mar 09 2015 09:14 PM

MANILA – Mid-sized real estate developer Primex Corporation said it has secured a P300 million five-year term loan facility from Metropolitan Bank & Trust Company (Metrobank).

Primex said the funds will be tapped for its expansion plans.

“The company intends to avail of the term loan facility as standby credit to fund its expansion plans in property development and strategic real estate business activities that they foresee will generate value and benefits to its shareholders and the investing public,” the firm said in a disclosure to the stock exchange on Monday.

Primex is the realty company behind residential projects Goldendale Village in Malabon, the Goldendale II, and The Richdale in Antipolo City.

The Ang family-led company has also completed several condominium projects including Greenrich Mansion, Richbelt Terraces, and the Chantreuse Garden.