AboitizPower unit inks $800-M notes fa­cil­ity

Business World - - CORPORATE NEWS - Victor V. Saulon

ABOITIZ Power Corp. on Wed­nes­day said its unit GNPower Mariv­e­les Coal Plant Ltd. Co. (GMCP) signed a notes fa­cil­ity agree­ment amount­ing to $800 mil­lion with a con­sor­tium of lenders.

“The pro­ceeds of the notes will be used by GMCP to, among oth­ers, refinance its ex­ist­ing loans and for other gen­eral cor­po­rate pur­poses,” the en­ergy arm of the Aboitiz group told the stock ex­change.

The note­hold­ers are BDO Uni­bank, Inc., China Bank­ing Corp., Land Bank of the Philip­pines, Se­cu­rity Bank Corp. and Philip­pine Bank of Com­mu­ni­ca­tions, it said. BDO Cap­i­tal & In­vest­ment Corp. is act­ing as sole man­dated lead ar­ranger.

GMCP is a part­ner­ship among AboitizPower units Therma Mariv­e­les Hold­ings, Inc., and Therma Mariv­e­les Ca­maya B.V., with Mariv­e­les Coal Project GP Corp., Power Part­ners Ltd. Co., and AC En­ergy Hold­ings, Inc.’s af­fil­i­ates Ar­ling­ton Mariv­e­les Philip­pines GP Cor­po­ra­tion, and Ar­ling­ton Mariv­e­les Nether­lands Hold­ings B.V.

GMCP owns a sub­crit­i­cal coal-fired power plant, in­clud­ing as­so­ci­ated and aux­il­iary as­sets. —

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