Meralco to Tap from Credit Facility with BDO, BPI, and Metrobank

​Manila Electric Company (Meralco) will draw from its P75 Billion Credit Facility with BDO Unibank Inc. (BDO), Bank of the Philippine Islands (BPI), and Metropolitan Bank and Trust Company (Metrobank) within the week.

The Credit Facility, which has a maximum amount of P75 Billion, is payable in twelve (12) years. The loan will be used to finance investments and other general corporate purposes of Manila Electric Company (Meralco).
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Meralco is the largest private sector DU in the Philippines covering 39 cities and 72 municipalities with a franchise area of c.9,685km2, which accounts for c.55% the Philippines’ electricity consumption. MERALCO is listed on the Philippine Stock Exchange (PSE), with a market capitalization of US$9.41bn / PHP 547bln as of 3 Jan 2025. MERALCO’s shareholders are Metro Pacific Investments Corporation (MPIC) 47.5%, JG Summit 26.4%, and Others (including free float) 26.1%. Apart from its primary DU business, MERALCO has several subsidiaries and affiliates providing diverse services, notably: – MERALCO PowerGen Corporation, a wholly-owned subsidiary of Meralco, which serves as its power generation unit with a gross operational capacity of c.2.6GW.