September 24, 2013

Meralco Issues P20B Long-Term Bond, Signing of Power Supply Agreement (PSA)

Meralco is issuing a P20B Long-Term bond for the principal purpose of refinancing the company’s existing debt.  Also, Meralco signed a Power Supply Agreement (PSA) with Therma Mobile, Inc. (TMO), for Meralco’s Distribution Utility (DU) business segment, for up to a maximum of 234 MW of the capacity of TMO’s power plants.

The term of the PSA will be from the approval by the Energy Regulatory Commission (ERC) up to June 2017. - WealthSec