Компания Roxas and Company заключила кредитный договор с Chinabank на 1,93 млрд песо для рефинансирования долгов

ROXAS AND COMPANY, Inc. (RCI) has entered into a P1.93-billion term loan agreement with China Banking Corp. (Chinabank) to refinance existing obligations and fund general corporate purposes. In a disclosure on Monday, RCI said it entered into an Omnibus Loan and Security Agreement with Chinabank on Aug. 20. Under the agreement, Chinabank agreed to extend a term loan facility with an aggregate principal amount of up to P1.932 billion. The proceeds will be used to refinance the existing loan obligations of RCI and its subsidiaries, as well as for general corporate purposes, the company said. As of June 30, RCI had P859.1 million in long-term borrowings, down from P1.01 billion at the end of 2025. These included P253 million owed to Amalgamated Investment Bancorporation, P330.4 million to Security Bank Corp., P139.3 million to Chinabank, and P136.9 million to Asia United Bank Corp. The company said its outstanding short- and long-term loans of P859.1 million were used to finance working capital requirements, as well as real estate and hotel developments. RCI’s attributable net loss narrowed by 18.2% to P337.4 million in the second quarter from P412.4 million a year earlier. Second-quarter revenue fell by 10.2% to P124.6 million from P138.7 million. Hotel revenue rose to P121.7 million from P119 million, while real estate revenue declined to P2.9 million from P19.7 million. For the first half, the company’s attributable net loss narrowed by 37.4% to P329.2 million from P525.6 million a year earlier, while consolidated net loss declined to P326 million from P554.2 million. First-half revenue slipped by 4.2% to P251.6 million from P262.6 million. Hotel revenue increased to P243.9 million from P238.8 million, while real estate revenue fell to P7.7 million from P23.9 million. RCI said the improvement in its first-half bottom line was supported by reduced finance costs following debt repayments, higher interest income from agrarian reform bonds and cash investments, and significantly lower losses from discontinued operations following the sale of Roxas Sigma Agriventures, Inc.’s plant assets in December 2025. This was despite the recognition of a P285.7-million impairment loss on property and equipment. Interest expense declined to P47.4 million in the first half from P119.4 million a year earlier, while interest income rose to P122.3 million from P22.6 million. RCI had total assets of P33.44 billion as of June 30, down from P34.28 billion at the end of 2025, while total liabilities declined to P7.69 billion from P8.25 billion. Total equity stood at P25.75 billion, compared with P26.03 billion at end-2025. The company had P759.1 million in cash as of June 30, up from P726.3 million at the end of last year. RCI and its subsidiaries are engaged in real estate and hotel development and management, property management, and coconut processing and exports. Its subsidiaries include Roxaco Land Corp., Roxaco-Asia Hospitality Corp., Fuego Hospitality Collectives, Inc., Roxas Sigma Agriventures, Inc., and Roxas Green Energy Corp. On Monday, RCI shares fell by 6 centavos, or 2.32%, to close at P2.53 apiece. — Alexandria Grace C. Magno