ACEN Corp. on Tuesday said that unit ACEN Investments Inc. had signed a term loan facility with ING Bank worth 50 million euros (P3.521 billion) for the construction of the latter’s energy projects.
“Please be informed that our subsidiary, ACEN Investments Inc., completed the signing of a term loan facility worth 50 million euros with ING Bank, N.V., Manila Branch, with ING Bank N.V., Singapore Branch acting as the agent,” ACEN told the stock exchange.
“The loan will be used to help finance or refinance investments or advances to existing and future renewable energy projects through its subsidiaries and joint ventures, and for general corporate purposes,” the company added.
ACEN Corp.’s share price rose by 7 centavos to close at P2.70 on Tuesday.
