Premiere Horizon Alliance Corporation (PHA) and SAMA Global Investments signed a memorandum of agreement for a funding facility of €250 million or P15 billion.
The money will be invested by PHA in real estate, tourism hospitality, tourism and infrastructure construction, power generation, financial services and other allied and related undertakings.
“In 2021, Sama Global shall have the right to convert, in whole or in part, the €250-million funding into an ownership of up to 60 percent in PHA in accordance with foreign ownership laws and regulations,” Premiere Horizon said in a regulatory filing on Friday.
The funding facility will have a term of nine years with a fixed interest of 1.25 percent a year and payable yearly, according to the filing submitted by Raul Ma. Anonas, CIO and COO at Premier Horizon.
The memo was signed on Thursday, January 17, in Doha by PHA chairman, president and CEO Augusto Antonio C. Serafica Jr., Sama Global board member and CEO Abdulla Al-Mutawaa, and Sama Global board member and executive finance director Shahzada Khurram.
Sama Global is an investment management firm that provides a range of investment strategies to serve a broad spectrum of client needs. It is based in Doha, Qatar.
According to PHA, “the cornerstone of Sama Global’s investment framework is its ability to see and seize opportunity and introduce future initiatives for its portfolio companies with the end in view of improving overall value of these companies.”
An investment holding company listed on the Philippine Stock Exchange, Premiere Horizon focuses on “projects that invigorate the countryside. Its mission is “to engage in sustainable countryside development using new technologies and best practices in the fields of food security, natural resources development, life sciences and technology, and tourism.” —VDS, GMA News