ABS-CBN Corporation, the country’s leading media and entertainment company, has signed a P4.75B loan agreement with UnionBank to refinance a syndicated loan acquired in 2010. 0
With a maturity of 10 years, the loan is intended to finance the company’s capital expenditures. ABS-CBN’s current projects include the building of stages for TV and film production, and the construction of additional transmission towers to expand the coverage of its Digital Terrestrial Television initiative to some cities in the Visayas and Mindanao regions. The signing was held at the ELJ Communications Center and attended by ABS-CBN officials led by Carlo L. Katigbak, president & CEO, Rolando P. Valdueza, Group CFO and head of Corporate Services Group 2, Aldrin M. Cerrado, chief financial officer, Ricardo B. Tan, Jr. Treasury head; UnionBank officials led by Edwin R. Bautista, president & COO, Eugene S. Acevedo, senior executive president & Retail and Corporate Banking head, Frederick E. Claudio, senior vice president & Corporate Banking Center head, John Cary Ong, UNIONBANK’s senior vice president, Transaction Banking Center head and Philippe L. Quito, assistant vice president, Corporate Banking Center.