Philippine Veterans Bank (PVB), one of the country’s top commercial banks, recently granted EastBay Resorts, Inc., owner and operator of Thunderbird Resorts in Rizal and Poro Point, a P260 million loan agreement to finance the expansion of the latter’s property in Binangonan.

EastBay Resorts, an affiliate of worldwide Thunderbird Resorts, Inc., is building the first state-of-the-art Event Center in its resort in Binangonan, Rizal as part of its development plan and the loan agreement with PVB will ensure the completion of the project.

With the agreement in place, EastBay can now facilitate the development of its Thunderbird - Rizal property and see to it that the Event Center benefits the province and its communities by providing them with improved facilities that can pave way for more tourism and economic gains.

Commenting on the growth of the business, EastBay Resorts Country Manager Fabio Moretti said:

“It was challenging but very rewarding. When I look back, I can see that we have already come a long way but at the same time also makes me feel how much more opportunities there are in the future.”

PVB President and CEO Ricardo Balbido Jr. also expressed enthusiasm for the partnership with EastBay Resort:

“Philippine Veterans Bank is pleased to have partnered with EastBay Resorts in this loan agreement. The Thunderbird brand is very popular worldwide and for them to partner with the Bank further demonstrates PVB’s strong financial capacity and credibility in development projects like this. Companies trust the PVB brand.”

Fortman Cline Capital Markets acted as financial advisor to EastBay Resorts and helped facilitate the loan agreement with PVB.

Photo shows officers of PVB, EastBay Resorts, Inc., and Fortman Cline Capital Markets at the signing of the Memorandum of Agreement at Thunderbird Rizal including (L-R) Harold Peter, Senior Property Director, Thunderbird Rizal; Roldan Antonio, Chief Financial Officer, EastBay Resorts, Inc.; Fabio Moretti, Country Manager, EastBay Resorts, Inc.; Melinda Sison, PVB Account Officer; and Marc Luz, Director, Fortman Cline Capital Markets; PVB Executive Vice-President Severo Leagogo, Head–Account Management Division; PVB Assistant Vice-President Ramon Uy, Head–Documentation Department; and PVB Vice-President Miguel Angelo Villa-Real, Head–CorpComm and Marketing Services Department.

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For any questions or clarifications, please call:
Mike Villa-Real
Vice-President
Corporate Communications and Marketing Services Dept.
Tel: 902-1670
Email: mcvillareal@veteransbank.com.ph