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Bancommerce Participates in Syndication

Bank of Commerce participated in Stradcom International Holdings, Inc. (SIHI)'s P2.0 billion Equity and Loan syndication supported by other companies like First Metro Investment Corp., Republic Glass Holdings Corp., Pentacapital Management Corp. and Philippine Veterans Bank.

A P1.6 billion Asset Backed Securitization of Stradcom Corporation, a wholly owned subsidiary of SIHI in 2007, preceded the project. SIHI is the holding company of Stradcom Corporation in charge of the computerization project of the Land Transportation Office -Build Own Operate program with the objective of providing ease in the processing of Motor Vehicle registrations, Driver's License and Permit transactions and Law Enforcement and Traffic Adjudication System among others.

Signing the contract were President and CEO Raul B. De Mesa and EVP Mario j. Padilla. Also, present were Atty. Marissa B. Espino and AO Yvette M. Hipolito. The contract signing was held recently at Shangri-La Hotel Makati.


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