First Gen unit secures P7-B loan from banks

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FIRST Gen Corp. announced on Friday that its hydropower subsidiary had entered into loan agreements with three Philippine banks for an aggregate amount of P7 billion to finance general corporate requirements.

In a disclosure, First Gen said that First Gen Hydro Power Corp. (FG Hydro) signed separate loan agreements with BDO Unibank, Inc. (BDO), Bank of the Philippine Islands (BPI), and Rizal Commercial Banking Corp. (RCBC).

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