Anglo secures P245-M loan to finance Trinoma project

Anglo Philippine Holdings Corp. has obtained a P245-million loan to finance its share in Trinoma, a four-level regional shopping center being built at the North Triangle Depot of the Metro Rail Transit- 3 along Edsa.

In a disclosure to the Philippine Stock Exchange, Anglo said it has secured a P170-million short-term loan from Land Bank of the Philippines and another P75 million from East West Banking Corp.

The proceeds of the loans will be used to fund the company’s equity contribution to the Trinoma Project of North Triangle Depot Commercial Corp. in which Anglo holds a 15.79 percent stake. Other proceeds will be used to augment the company’s working capital requirements.

Trinoma will operate the Landmark department store and supermarket; will be directly connected to the MRT through a bridgeway, and will have generous and easily accessible parking space, cinemas, and restaurants.

NTDCC owns the development rights over the North Triangle Depot. The project and operations manager Ayala Land Inc. expects the P4-billion commercial center to start operations by mid-2007.

Anglo’s flagship investment — the EDSA-MRT project — constitutes about 94 percent of its total investment portfolio. It also has investments in natural resources and infrastructure.

In June 2006, Anglo boosted its investments portfolio with the acquisition of 107 million shares in Edsa Properties Holdings Inc.

Anglo continues to maintain its 18.6 percent equity in Metro Rail Transit Holdings Inc. (MRTHI) which owns 84.9 percent of Metro Rail Transit Corp. (MRTC) and Metro Rail Transit Holdings II (MRTH II).

It also maintains full ownership of subsidiary Filipinas Energy Corp. (FEC), a petroleum and mineral resources company; 1.81 percent in Philippine Seven Corp., the Philippine franchise holder of the 7-Eleven chain of convenience stores; and two-percent equity in Batangas Assets Corp., a holding company organized for the purpose of investing in the Calabarzon area, particularly in Batangas.