Meralco taps P75-B debt facility, eyes 2025 expansion

January 21, 2025
8:42AM PHT

Manila Electric Co. (Meralco) is set to tap its P75 billion credit facility with BDO Unibank Inc., Bank of the Philippine Islands, and Metropolitan Bank and Trust Co. this week.

The 12-year loan will fund key investments and support the company’s general corporate needs, the electricity distribution giant said in a stock exchange filing on Tuesday. 

Meralco is also expected to increase its 2025 capital spending, driven by a robust economic outlook, according to chairman and CEO Manuel V. Pangilinan.

In a report by the Philippine Star, Pangilinan said part of their expansion will focus on the $4-billion Terra Solar project in Central Luzon, which is poised to become the world’s largest solar facility. Additionally, a significant portion of the budget will support investments in liquefied natural gas. 

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