WG&A, the largest ferry operator and freight transporter in the Philippines, has obtained a PHP 600m ($12m) loan guaranteed by Japan's Export-Import Bank (Jexim).
Arranged by UPB Capital and syndicated to six Philippines-based banks, the cash will be used to acquire and refit the Superferry 14 and to develop the company's port facilities.
WG&A's financial position has improved recently.
For the first five months of this year it posted a five-fold increase in earnings over the same period in 1999.
WG&A
