UCPB Customer Relations Center (+632) 811-9111   |   crc@ucpb.com   |  

UCPB, APFC sign loan agreement to acquire additional FastCat ferries

UCPB, APFC sign loan agreement to acquire additional FastCat ferries
UCPB President and CEO Higinio O. Macadaeg, Jr. and AFPC President Christopher S. Pastrana (3rd and 4th from right) sign a loan agreement for two additional FastCat ferry boats together with (L-R) AFPC executives EVP Mary Ann I. Pastrana and Chairman Dennise C. Trajano, as well as UCPB senior officers FVP/Corporate and Commercial Banking Group OIC Carina C. Uy and VP/Metro Manila 2 Team Head Ramon L. Fernandez, Jr.

UCPB and Archipelago Philippines Ferries Corporation (APFC) recently signed a loan agreement to acquire two additional FastCat roll-on/roll-off (RORO) passenger ferries that will service APFC’s various inter-island routes in the country.

The 10-year term loan facility amounting to US$ 13.28 million will be used to partially cover the US$ 16-million manufacturing cost of the RORO ferries. These will be built by Bonny Fair HK, Ltd., and are projected to be finished in 12 months. In 2015, APFC also availed of a loan facility from UCPB to partially finance the acquisition of two ferries as part of its modernization program.

“We’re very happy to partner with APFC in increasing the number of its fleet which will enable the company to serve more passengers and transport more goods and services through its inter-island routes,” UCPB President and CEO Higinio O. Macadaeg, Jr. said.

The agreement was signed by the UCPB President, Corporate and First Vice President/Commercial Banking Group Officer in Charge Carina C. Uy and Vice President/Metro Manila 2 Team Head Ramon L. Fernandez, Jr. together with APFC Chairman Dennise C. Trajano, President Christopher S. Pastrana and EVP Mary Ann I. Pastrana in simple ceremonies at the Manila Golf and Country Club on September 12, 2018.

APFC provides a vital maritime link through its safe, fast, reliable and state-of-the-art RORO vessels designed specifically for Philippine water conditions. To date, APFC has 12 FastCat RORO ferries that serve 19 routes in the country including Batangas, Mindoro, Sorsogon, Samar, Aklan, Panay, Cebu, Bohol, Negros Oriental, Negros Occidental, Surigao Del Norte, Camiguin, Cagayan de Oro and Zamboanga. The company also owns and operates modernized ports and terminals in the eastern and western sea route.

Date published: October 1, 2018

Quick Links

Product Name NAVPU YTD Return

As of Dec 12, 2018, 05:32:00 PM

Click here to use our UITF Yield Calculator

For more information, please contact
UCPB Trust Banking Group:
(02) 811-9520, 811-9515, or 811-9541
trust@ucpb.com

Customer Advisories

UCPB Freedom of Information Manual

In line with the Philippine government’s policy of full disclosure of its transactions involving public interest, subject to reasonable conditions prescribed by law and Executive Order No. 02, Series of 2016, which aims to operationalize the people’s constitutional right to information, United Coconut Planters Bank adopts this Freedom of Information Manual. Click here to read the full UCPB Freedom of Information Manual. Read more.

UCPB Data Privacy Statement

Customer privacy is of utmost importance to us. At UCPB we are committed to safeguard your personal and account information, protect them from data corruption, compromise or loss, ensure information security, and use them only as you would want us to, or as law allows. Click here to view the entire statement. Read more.

Local Holidays

Please be advised of the following local holidays and the UCPB branches that will be closed:

Tuesday, December 11, 2018 – Angeles, Clarkfield, and San Fernando branches (Founding Anniversary of Pampanga – Proclamation No. 2226)

Our ATMs and electronic banking facilities are available even during holidays. Thank you.

Read more.

Copyright 2016 UCPB. All Rights Reserved.

Main Menu