Loan extension for Hanjin Subic

Manila: Rizal Commercial Banking Corp (RCBC) has extended a $100m loan to Hanjin Heavy Industries & Construction (HHIC) Philippines to help fund its expansion activities at the Subic shipyard.

The three-year term refinancing facility was signed by RCBC President and Chief Executive Officer Lorenzo V. Tan and HHIC-Philippine President Jin Kyu Ahn along with HHIC Managing Director Moon Soo-kang and RCBC Chairman Helen Y. Dee.

HHIC-Phil employs more than 16,000 Filipino workers and has taken a raft of containership orders of late and has plans to get into offshore.  [19/02/14]

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