Roxas and Co. Inc. has secured a P1.93-billion term loan from China Banking Corp., a key step to strengthen its finances and support long-term growth, the company disclosed Monday. Proceeds will refinance existing debt across the parent firm and its subsidiaries and fund general operations, giving the group more financial room to advance its turnaround plan.
The deal follows clear signs of improving performance. In the first half, the company narrowed its net loss to P326 million from P554.2 million a year earlier, driven by lower operating and finance costs, higher interest income, and smaller losses from discontinued operations, even after accounting for a P285.7-million property impairment charge.
The loan reflects growing institutional confidence in the group’s tighter operations and stronger liquidity. As of end-June, cash reserves rose to P759.1 million, supported by P469.1 million in current agrarian reform bonds, providing ample funds for operations, spending, and debt payments.
With this financing, management will continue deleveraging and boosting efficiency while advancing growth plans—including optimizing hospitality, accelerating real estate, developing hacienda properties, and unlocking value through ecotourism and land leasing.
