Name of Loan: Term Loan
Type of Loan: Note
Kind of Indebtedness: Domestic
Purpose of Loan: Construction of the Negros Oriental Medical City
Authority for Loan: SP Res #103dtd 02/05/2024
Bank/Lending Institution: Land Bank of the Philippines
Date Loan was Granted:
Amount: P3,300,000,000.00 December 18, 2024
Maturity Date: December16,2039
Payment Terms: 15 yrs. on principal amortization-payable quarterly with 2 years grace period on
principal
Amount of Interest:
Interest Rate: 4.50% p.a. P0
Other Charges: Documentary stamp P 3,712,387.50
Projects Funded or to be funded out of the loan and amount/s involved:
Construction of the Negros Oriental Medical City – First Tranche
Source of Funding to be used in paying the loan: General Fund
Assignment of 20% of
Guarantee/Collateral provided, if any National Tax Allotment
Current Outstanding Loan Balance P 494,984,999.99
Arrears, if any: Principal None
Interest None
Deposit to Bond Sinking Fund for the year: None
Name of Loan: Term Loan
Type of Loan: Note
Kind of Indebtedness: Domestic
Purpose of Loan: Improvement of Perdices Coliseum
Authority for Loan: SP Res #103dtd 02/05/2024
Bank/Lending Institution: Development Bank of the Philippines
Date Loan was Granted:
Amount: P40,000,000.00 November 20, 2024
Maturity Date: November20,2039
Payment Terms: 15 yrs. on principal amortization-payable monthly inclusive of 2 years grace
period on principal
Amount of Interest:
Interest Rate: 4.50% p.a. P 22,379.04
Other Charges: Documentary stamp P 44,758.50
Projects Funded or to be funded out of the loan and amount/s involved:
Improvement of Perdices Coliseum – First Release
Source of Funding to be used in paying the loan: General Fund
Assignment of 20% of
Guarantee/Collateral provided, if any National Tax Allotment
Current Outstanding Loan Balance P 5,967,743.41
Arrears, if any: Principal None
Interest None
Deposit to Bond Sinking Fund for the year: None
Derecognition
A financial liability is derecognized when the obligation under it is discharged,
cancelled, or expires.
When an existing financial liability is replaced by another from the same lender on
substantially different terms or the terms of an existing liability are substantially
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