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Jan 12, 2018 @ 19:22

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.

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