First Pacific to extend up to 90 mln usd loan to Pacific Metro

HONG KONG (AFX-ASIA) - First Pacific Co Ltd said it has agreed to extend temporary funding of up to 90 mln usd to Philippine affiliate Metro Pacific.	    In a statement, First Pacific said the funding will enable Metro Pacific to meet its convertible bond redemption obligations, which could total 88 mln usd, due in April.	    Under the agreement, First Pacific will extend the short term facility at an interest rate of 15 pct and the loan will be repaid by Dec 31, 2001.	    First Pacific said it will use its cash-on-hand to fund the loan.  	     

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