Aboitiz Power unit secures P32B in loans and credit to build 300-MW power plant

Therma Visayas Inc. has signed an omnibus deal with a consortium of banks for loans and credit accommodations amounting to P31.97 billion.

 

A subsidiary of Aboitiz Power Corporation, Therma Visayas is using the money to build a 300-megawatt coal-fired power plant in Toledo City, Cebu, Aboitiz Power said in a filing released by the Philippine Stock Exchange on Friday.

 

First Metro Investment Corporation was hired as lead arranger and sole bookrunner for the transaction, while BDO Unibank Inc.-Trust and Investments Group was appointed as trustee and project loan facility agent. – VS, GMA News