FEU Secures P1-B Expansion Loan

The Far Eastern University, Inc. (FEU), a private non-sectarian educator with primary focus on tertiary learning and houses 30,000 students under its corporate umbrella, signed yesterday a P1-Billion 5-year Term Loan Facility with Bank of the Philippine Islands.

The proceeds of the loan will be used partly to finance FEU's expansion in Metro Manila.

In recent years, the institution has been active in exploring growth avenues by exploring strategic geographical segments, forming partnerships and expanding its program offerings.

In 2010, FEU established a Makati campus to cater to business students and a Silang, Cavite campus to offer a full range of course offerings from pre-school to tertiary education in Southern Luzon. Its Makati branch also hosts the culinary arts school, "ICF@FEU", a joint venture between FEU and PHI Culinary Arts and Food Services Institute, Inc. In November this year, FEU announced its plans to put up a new campus in Alabang, Muntinlupa City to be located in a 1.8 hectare parcel of land in Filinvest Corporate City.

FEU is one of few educational institutions listed in the Philippine Stock Exchange (PSE:FEU). As of its September 30, 2012 company filing, its total assets amounted to P4.87 billion with combined revenues of P1.07 billion for the first half of the year, 9.7% up from the same period in 2011. Its first-half net income of P375.7 million is likewise up by 21.7% from R308.5 million last year.

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