Sta. Lucia Land (SLI), owned by real estate magnate Exequiel Robles, is seeking to secure a loan of up to P8.58 billion from various local banks to fuel its expansion.
According to a regulatory filing, SLI aims to obtain an unsecured long-term loan facility of up to P5 billion from China Banking Corp.
The company also plans to secure debt amounting to up to P2.83 billion from BPI. This will include a new unsecured medium-term loan of up to P2 billion, a revolving promissory note line of up to P750 million, a domestic bills purchase line of up to P50 million, a corporate guaranty line of P20 million, and a fleet line facility of up to P10 million.
Furthermore, SLI has been authorized to obtain an unsecured short-term loan facility of up to P750 million from Robinsons Bank Corporation.
SLI is set to enter into joint ventures for the development of various projects in Rizal, South Cotabato, Batangas, Pangasinan, Cavite, Davao, and Iloilo City.
The company is also poised to take over the development of Greenmeadows Iloilo Phase II from Sta. Lucia Realty and Development Inc., as well as enter into an amended joint venture agreement with the AFP Retirement and Separation Benefits System.