PHINMA Lends ₱1-B To Cement Subsidiary

Philcement Corporation (PCC), a 60% owned subsidiary of listed PHINMA Corporation (PHN), has availed itself of a term loan facility from the proceeds of PHN’s bond issuance, in the amount of PHP1 Billion for 1.5 years at the current market rate.

Photo Insert: PHINMA's legacy brand, Union Cement

In line with the disclosed use of bond proceeds to support the growth of PHINMA Corporation’s Strategic Business Units, the loan was approved by the Board of Directors of PHINMA Corporation on November 10, 2021, and August 10, 2022

The loan proceeds will be used by PCC to fund expansion and improvements in its facility located in Mariveles, Bataan.

This is aligned with PCC’s promise to assure Filipino consumers of a reliable, high-quality supply of cement products under its legacy brand, Union Cement.

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