Premiere Horizon, Qatar firm ink P15 billion loan-to-equity deal

MANILA, Philippines — Premiere Horizon Alliance Corp. (PHA) has signed an agreement with Qatar-based Sama Global Investment for a 250 million euro or P15 billion funding facility.

Such funding may be converted into ownership of PHA in 2021.

“Sama Global shall have the right to convert, in whole or in part, the 250 million euro funding into an ownership of up to 60 percent in PHA in accordance with foreign ownership laws and regulations,” PHA said yesterday.

The funds will be invested in real estate, tourism hospitality, tourism and infrastructure construction, power generation, financial services and other allied and related undertakings.

The loan will have a term of nine years with a fixed interest of 1.25 percent per annum payable yearly.

Sama Global is a global investment management firm that provides a range of investment strategies to serve client needs.

The cornerstone of Sama Global’s investment framework is its ability to see and seize opportunity and introduce future initiatives for its portfolio companies with the end in view of improving overall value of these companies.

PHA is a countryside developer with two landmark projects in the real estate and tourism sectors.

The company is developing a master-planned tourism estate in Puerto Princesa City that brings together serene mountainside resorts and beach retreats through its West Palawan Premiere subsidiary.

It also signed a memorandum of understanding with Korean company, D-Eco Energy Co. Ltd. (D-Eco) to actively explore joint ventures.

D-Eco is a Korean company engaged in the power business and allied industries and is forming a consortium of investors who are looking into investing in the same infrastructure, tourism and power sectors in the Philippines.