Filipino-owned ADAMCO raises P1B via note issuance of Development Bank of the Philippines and Security Bank

Leading agricultural machines and equipment dealer Ada Manufacturing Corp. (ADAMCO) has successfully raised P1 billion via the issuance of notes supported by state-run Development Bank of the Philippines and Security Bank Corp.The proceeds of the fund raising activity via the issuance of five-year corporate notes arranged by GIV Capital Holdings Corp. will be used to finance ADAMCO’s capital expenditure and working capital requirements related to the development of its branch network.

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