First Gen secures $265-M loan from Germany’s KfW

By The Manila Times

Jul 11, 2014 10:12 pm

The Lopez-led First Gen Corp. has secured a $265 million (P11.5 billion) export credit facility from a German bank to help finance an ongoing natural gas-fired power plant project in Batangas.

A disclosure to the Philippine Stock Exchange showed that First Gen’s wholly owned subsidiary First NatGas Power Corp. (FNPC) signed on Friday an export credit facility worth $265 million with KfW IPEX-Bank of Germany (KfW) with a tenor of 13.7 years.

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