https://business.inquirer.net/407551/san-miguel-seals-p100-b-loan-deal-for-mrt-7-project
MANILA, Philippines β Billionaire Ramon Ang-led San Miguel Corp. (SMC) secured a P100-billion loan deal to finance the completion of the Metro Rail Transit Line 7 that aims to link Metro Manila to Bulacan province by 2025.
The food, beverage, and infrastructure closed the syndicated loan agreement with a consortium of local banks and state-pension fund Governance Services Insurance System for the roughly $1.6 billion (P88 billion) project.
βThe support we are getting from major Philippine banks shows that they recognize how important this project is to many Filipinos, and appreciate our overall vision of a Philippines made more progressive, resilient, and competitive, through investments in major projects such as efficient mass transport systems,β Ang said in a statement.