Manila Electric Co., the country’s largest power distributor, said Tuesday it plans to draw from its P75 billion credit facility this week, a move that will help finance the company’s ongoing investments and other general corporate purposes.
The credit facility, secured from BDO Unibank Inc., Bank of the Philippine Islands, and Metropolitan Bank and Trust Co.—three of the country’s top listed lenders, is structured with a twelve-year repayment period.
The credit line is a key part of Meralco’s financial strategy, supporting its long-term growth initiatives, including infrastructure upgrades and the expansion of services to meet increasing energy demands. The loan provides Meralco with the necessary liquidity to continue its modernization efforts while maintaining operational flexibility.
Meralco’s decision to utilize this credit facility underscores its commitment to supporting the country’s energy needs while ensuring sustainability. The company has consistently invested in infrastructure projects to enhance its distribution network and integrate renewable energy sources, aligning with national goals for cleaner and more efficient power systems.
