South Harbor operator borrows P500M from Security Bank

Asian Terminals Inc., a publicly listed firm which runs the Manila South Harbor, on Wednesday said it would borrow P500 million from Security Bank Corp. to finance its operations. In a disclosure to the Philippine Stock Exchange, Asian Terminals said the credit facility has a duration of three years. "The Company signed earlier today an agreement for a three year revolving credit facility in the amount of P500 million with Security Bank," the firm said. "The proceeds of the loan shall form part of the general funding requirements of the company," it added. Asian Terminals used to be called Marina Port Services Inc. Aside from operating the South Harbor, it also maintains the highly automated Mariveles Grain Terminal in Bataan. - GMANews.TV