Century-Mitsubishi JV secures P2.2-B BPI loan

THE joint venture between Century Properties Inc. and Mitsubishi Corporation has obtained a P2.2 billion loan facility from the Bank of the Philippine Islands (BPI) to partly finance its Forbes Tower project.

Century said the balance of the 10-year P2.2 billion senior facility loan will be funded through equity contributions of 60 percent from Century Properties and 40 percent from Mitsubishi.