DMCI to borrow P5 billion thru syndicated loan

DMCI Holdings Inc. will borrow P5 billion through a syndicated loan to finance the expansion of its real estate unit, the company said Monday. DMCI President Isidro Consunji told reporters that the company plans to make the loan final next October. “We will issue syndicated loan worth P5 billion for the expansion of our housing unit," Consunji said. The company has tapped BDO Capital Investment Corp. as lead arranger for the transaction. DMCI homes, the real estate unit of DMCI Holdings, said it plans to spend P5.5 billion in capital expenditure for its nine residential condominium developments this year 2010. This June to December, DMCI Homes plans to open six new projects in Mega Manila. In the first half it launched three projects, also in Mega Manila. —With MR Gavin/VS, GMANews.TV