Lorenzo Shipping Corporation
PSE Circular for Brokers No. 408-00 • Philippine Stock Exchange • Circulars for Brokers • Feb 18, 2000
Full text
February 18, 2000 PSE CIRCULAR FOR BROKERS NO. 408-00 February 17, 2000 Disclosure Department Listings and Disclosure Group 4/F Philippine Stock Exchange Center PSE Center, Exchange Road Ortigas Center, Pasig City Attention: Ms. Ma. Isabel T. Garcia OIC, Listings and Disclosure Group RE : Lorenzo Shipping Corporation Gentlemen : The Corporation was granted a P620Million credit facility by a leading commercial bank and the proceeds shall be used to retire a substantial portion of the dollar denominated debts of the Corporation. This is in line with Management's policy to minimize the foreign exchange risks of the Corporation. LexLib The credit facility was secured by a Guarantee issued by Neptune Orient Lines Ltd. (NOL), a shareholder of the Corporation. In exchange for the guarantee, the Corporation executed a Deed of Indemnity in favor of NOL. Very truly yours, HERRERA TEEHANKEE & FAYLONA By: (SGD.) ARSENIO C. CABRERA, JR.
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