Metrobank lends P2.5 B to Pepsi

MANILA, Philippines — Metropolitan Bank & Trust Co. (Metrobank) extended a P2.5 billion loan facility to listed beverage maker Pepsi-Cola Products Philippines Inc. to bankroll various expansion initiatives.

Mylene Caparas, executive vice president and head of the institutional banking sector at Metrobank, said the five-year loan was the second term loan transaction with Pepsi in recent years.

“Metrobank and Pepsi have had a strong partnership for 23 years and counting, and we are honored to be a part of Pepsi’s remarkable growth story in the Philippines. We look forward to many more milestones together in the coming years,” Caparas said.

In March 2013, Metrobank extended a seven-year loan facility amounting to P1 billion to Pepsi to finance the construction of one of the biggest manufacturing facilities in Batangas.

Taipan George SK Ty’s Metrobank is the country’s second largest bank in terms of assets.

It has one of the largest domestic networks with over 950 branches and over 2,300 automated teller machines (ATMs) nationwide, and 32 foreign branches, subsidiaries and representative offices, two fully licensed branches are located in Japan.

Pepsi was registered with the Securities and Exchange Commission (SEC) in 1989 to engage in manufacturing, sales and distribution of carbonated softdrinks and non-carbonated beverages, as well as confectionery products, to retail, wholesale, restaurants and bar trades.

It diversified to engage in the manufacture, sale and distribution of food and food products, and snacks.

It manufactures a range of carbonated softdrinks, non-carbonated beverages, and snacks that include well-known brands Pepsi-Cola, 7Up, Mountain Dew, Mirinda, Mug, Gatorade, G Active, Tropicana/Twister, Lipton, Sting, Propel, Milkis, Premier, Aquafina, Let’s Be, Lay’s and Cheetos.