Security Bank and Limketkai Hotel & Resort Corp. Signs Php 750-M Term Loan Deal

Security Bank Corporation (SBC) and Cagayan de Oro-based Limketkai Hotel & Resort Corporation (LHRC) recently signed a Php 750-M term loan partnership to fund the construction of an 18-storey, 224-room hotel and resort development project within the company’s 30-hectare commercial complex in Cagayan de Oro City. Limketkai Hotel & Resort Corp. will start construction this year and is expected to be operational by late 2011 or early 2012. Upon completion, the hotel will dominate the cityscape as the tallest structure in Mindanao.

Photo shows senior executives from both parties during the recent signing ceremonies held at the Security Bank corporate headquarters in Makati City. From left are: SBC senior bank officials – Jeanette S. Keh, FVP ? Banking Center Group Head, Patricia May T. Siy, EVP ? Commercial & Retail Banking Segment Head; and President & CEO Alberto S. Villarosa; with LHRC Alfonso U. Lim – President & CEO, Albino U. Limketkai– EVP & COO, and Lorenzo U. Limketkai, VP & General Manager.