|
MANILA, Philippines - Lopez-owned Energy Development Corp. (EDC) has signed a six-year, $175-million syndicated term loan to refinance its existing debts.
In a disclosure to the Philippine Stock Exchange yesterday, EDC said the loan facility’s mandated lead arrangers and bookrunners are Australia and New Zealand Banking Group Ltd., The Bank of Tokyo-Mitsubishi UFJ Ltd., Chinatrust Commercial Bank, ING Bank NV, Maybank Group, Mizuho Corporate Bank Ltd. and Standard Chartered Bank.
ANZ meanwhile, acted as sole coordinator and documentation bank.
The new facility shall effectively refinance EDC’s existing $175-million transferable syndicated term loan facility maturing June 17, 2013.
The company said, it expects the closing of the financing scheme by end-June 2011.
EDC secured recently a $75-million loan from the International Finance Corp. (IFC), the private sector investment arm of the World Bank. The loan facility, which will have a 15-year term, will be used to fund the company’s medium-term capital expenditure program.
Earlier this year, EDC also tapped the IFC for a $75-million loan to finance its capital projects.
EDC is currently the largest producer of geothermal energy in the Philippines, accounting for 62 percent of the country’s total installed geothermal capacity.
It also owns and operates the 122-megawatt Pantabangan-Masiway hydro-electric plants and has investments in wind energy projects in Ilocos and other provinces.
In a disclosure to the Philippine Stock Exchange yesterday, EDC said the loan facility’s mandated lead arrangers and bookrunners are Australia and New Zealand Banking Group Ltd., The Bank of Tokyo-Mitsubishi UFJ Ltd., Chinatrust Commercial Bank, ING Bank NV, Maybank Group, Mizuho Corporate Bank Ltd. and Standard Chartered Bank.
ANZ meanwhile, acted as sole coordinator and documentation bank.
The new facility shall effectively refinance EDC’s existing $175-million transferable syndicated term loan facility maturing June 17, 2013.
The company said, it expects the closing of the financing scheme by end-June 2011.
EDC secured recently a $75-million loan from the International Finance Corp. (IFC), the private sector investment arm of the World Bank. The loan facility, which will have a 15-year term, will be used to fund the company’s medium-term capital expenditure program.
Earlier this year, EDC also tapped the IFC for a $75-million loan to finance its capital projects.
EDC is currently the largest producer of geothermal energy in the Philippines, accounting for 62 percent of the country’s total installed geothermal capacity.
It also owns and operates the 122-megawatt Pantabangan-Masiway hydro-electric plants and has investments in wind energy projects in Ilocos and other provinces.
No comments:
Post a Comment