MPIC secures P8B loan
Infrastructure conglomerate Metro Pacific Investments Corp. raised P8 billion from a syndicated term loan facility.
In a stock exchange filing, MPIC said it signed signed a 10-year and 15-year loan facility to pay down debt and for general corporate purposes.
The loan proceeds will be used to partially finance the redemption of the outstanding debt obligations of wholly-owned subsidiary Beacon Electric Asset Holdings Inc.
MPIC tapped BDO Capital & Investment Corp. as arranger and bookrunner.
It has set a P653 billion five year capital spe sing program to further expand its power, tollways, rail and health care businesses.