FIRST PHILIPPINE HOLDINGS IS A CORPORATION THAT IS CONSTANTLY IN ACTION. WE’RE ALWAYS TRYING TO FIND WAYS TO DELIVER FOR OUR STAKEHOLDERS AND THE FILIPINO PEOPLE.
First Gas Power Corporation (FGPC or First Gas) today signed a US $ 544 M term loan facility with nine foreign banks. The proceeds of the loan will be used to repay the existing debt of First Gas in the amount of US $ 132 M. The term loan consists of two tranches: an uncovered facility with a 10-year tenor, and a political risk-covered facility with a 12.5-year tenor.
FGPC is a wholly-owned subsidiary of First Gas Holdings Corporation (FGHC). FGHC is 60% owned by First Gen Corporation and 40% owned by BG Consolidated Holdings (Philippines), Inc.
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