Rockwell Land Corporation announced that it is taking on long-term debt to finance capital expenditures. The company's board of directors cleared that the availment of a 5, 7 or 10-year bilateral long-term loan facility with Metropolitan Bank and Trust Co. amounting to up to PHP 5 billion.

The fresh borrowing will be used to fund various capital expenditures. The company announced last year that it was launching three residential projects that would generate PHP 22.5 billion in combined revenues.