ACEN to raise P13.7B for subsidiary

By Eireene Jairee Gomez

Apr 13, 2022 12:25 am

ACEN, the Ayala group's listed energy platform, has signed an up to 15-year Senior Secured Term Loan Facility for up to P13.7 billion for its wholly-owned subsidiary, South Luzon Thermal Energy Corp. (SLTEC).

In a statement on Tuesday, ACEN said that the loan will allow SLTEC to decommission its remaining coal plants by 2040, which is 15 years ahead of the end of its technical life.

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