PXP Secures USD600K in Loans from Shareholders Philex and Kirtman
- August 6, 2025
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PXP Energy Corporation has obtained a total of USD 600,000 in additional loans from its shareholders, Philex Mining Corporation (PMC) and Kirtman Limited, according to a disclosure filed with the Philippine Stock Exchange.
Each lender provided USD 300,000 to PXP, with the principal amounts payable on demand. The loans carry an interest rate of LIBOR-or its equivalent-plus a 3.5% margin per annum, with interest payable quarterly in arrears.
PXP stated that the proceeds from the loans will be used to partially fund the Group’s working capital needs for at least the next 12 months.
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