Sta. Lucia Land secures long term loan to help fund expansion

Sta. Lucia Land Inc. (SLI), the publicly listed company of the Sta. Lucia Group, has secured a P3.75-billion long term loan facility to help fund its expansion plans and refinance existing financial obligations.

Acting as the lead arranger for the syndicated loan facility is RCBC Capital, while serving as co-lead arrangers were BPI Capital Corp. and BDO Capital & Investment Corp. Bank lenders meanwhile included RCBC, BPI, BDO and Robinsons Bank. The signing ceremony held in December was graced by top officials from Sta. Lucia Land and participating financial institutions.

According to SLI, proceeds from the issuance will be allocated for development costs, land acquisition, refinancing of existing debts and for general corporate purposes.

Last year, SLI embarked on an expansion plan that allowed it to enter into joint ventures and acquire land in seven provinces, particularly in emerging fringe areas across the country. These areas include Laguna, Batangas, Rizal, Bulacan, Pangasinan, Pampanga and South Cotabato.

“It was an unprecedented time for the company and the country. With the worse seemingly behind us, SLI looks forward to recovery and an even stronger 2023 and beyond as we create projects that will leave a legacy for future generations. SLI thanked its bank partners, who have been with SLI through this journey as the organization continues to build climate resilient residential communities in the provincial growth fringes,” SLI said in a statement.

For 2023, Sta. Lucia Land will continue to pursue aggressive expansion plans, strategic landbanking activities, joint ventures and portfolio diversification. In particular, it seeks to further expand its presence in 18 provinces, including Bulacan, Pangasinan, Bataan, Pampanga, Nueva Ecija, Zambales, Cavite, Laguna, Batangas, Rizal, Quezon, Palawan, Iloilo, Bacolod, Cebu, Zamboanga, South Cotabato and Davao.

To recall, the Sta. Lucia Group is among the first to build prime residential developments not only in city centers but also in fringe areas and provinces that hold growth potential. It has thus made it its mission to continuously develop in the city fringes and the countryside—setting its sights on emerging cities and provinces where it tries to grow and evolve with its residents.

This allowed the company to help fuel growth and spread progress in more locales nationwide. And given its first-mover advantage, Sta. Lucia is able to cement as well a strong foothold in these markets, now considered as viable destinations. This is also part of the company’s nation-building efforts, enabling SLI to help reshape the landscape and the lifestyles of Filipinos through its wide portfolio of property developments across the country.

Currently, Sta. Lucia Land and the Sta. Lucia Group have an extensive portfolio of more than 300 projects in 70 cities and 11 regions—from as far north as Pangasinan to as far south as Davao Region. For more than 50 years now, Sta. Lucia has been building lake residences, farm lots, resort-themed developments, golf courses and country clubs, condominiums, hotels, commercial areas, as well as house and lot projects.

Souce: https://inqm.news/tezr