ACEN seals P15-B loan facility with Metrobank
ACEN Corp. has obtained fresh financing of up to P15 billion from Metropolitan Bank & Trust Company (Metrobank), bolstering the Ayala-led renewable energy firm’s funding capacity as it continues to expand its portfolio.
In a disclosure on Monday, ACEN said the loan agreements, signed on Dec. 19, covered an omnibus credit line of up to P15 billion with Metrobank.
The company did not immediately disclose the tenor, interest rates or specific drawdown schedule for the credit facility.
However, omnibus credit lines are typically structured to give borrowers flexibility to tap funds in tranches, depending on operational and investment requirements.
The latest agreement adds to ACEN’s financing toolkit as it funds renewable energy projects and manages capital needs across its domestic and international operations.
Closing deal
ACEN, one of the country’s largest renewable energy developers, said the signing of the loan agreements formalized the financing previously announced to the market.
The loan signing comes as power producers continue to shore up liquidity amid sustained capital spending in the energy sector, particularly for renewable capacity additions.
Earlier this month, ACEN formalized a P2.59-billion financing deal to support its solar power venture in Pampanga.
