Qatar firm lends P15 billion to PH tourism developer

Qatar-based Sama Global Investment has extended a Euro 250-million (P15.0-billion) funding facility to Premiere Horizon Alliance Corporation (PHA) with the aim of acquiring a majority stake in the publicly-listed firm.

In a disclosure to the Philippines Stock Exchange, PHA said it has entered into a Memorandum of Agreement with Sama Global for the funding facility which will have a term of nine years with a fixed interest of 1.25 percent per annum payable yearly.

In 2021, Sama Global shall have the right to convert, in whole or in part, the 250 million Euro funding into an ownership of up to 60 percent in PHA in accordance with foreign ownership laws and regulations.

PHA said “the funds will be invested by PHA in real estate, tourism hospitality, tourism and infrastructure construction, power generation, financial services and other allied and related undertakings.”

Sama Global Investment is a global investment management firm that provides a range of investment strategies to serve a broad spectrum of client needs with headquarters in Doha, Qatar.

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.

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