MANILA – Anglo-Philippine Holdings Inc. is extending a credit line of up to P300 million to its affiliate National Book Store Inc. and its subsidiary, Abacus Book & Card Corporation.

The loan is at 90-day terms with an 8 percent per annum interest rate.

In a disclosure to the Philippine Stock Exchange, the company said this should provide short-term funding for the operations of NBS, which is owned by the Ramos family.

NBS, one the Philippines’ largest bookstore chains, has taken a hit as schools and consumers shifted online.

• National Book Store denies closure rumors

The bookstore chain opened its 235th branch in Bonifacio Global City in March.

• National Book Store opens 235th store, declares: ‘We’re back’