PHA secures P15-B funding for projects

Investment holding firm Premiere Horizon Alliance Corp. (PHA) has tapped a P15-billion long-term funding facility from Doha-based Sama Global Investment that can be converted into a controlling stake in the local firm.

PHA disclosed to the Philippine Stock Exchange that it had entered into a memorandum of agreement with Sama Global for this funding facility that would be tapped to finance real estate, tourism hospitality, tourism and infrastructure construction, power generation and financial services undertakings.

The facility will have a term of nine years with a fixed interest of 1.25 percent a year payable yearly, according to the disclosure. In 2021, Sama Global will have the right to convert, in whole or in part, the funding into ownership of up to 60 percent in PHA in accordance with foreign ownership laws and regulations. Read More @




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