Tovic Salvador

The financing backs Prime Infra’s acquisition of majority stakes in key natural gas facilities.

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ABS-CBN News

MANILA — Prime Infrastructure Capital said it has secured a P47-billion financing package to support its acquisition of a 60-percent stake in First Gen Corporation’s natural gas assets in Batangas.The company said the loan and security agreement was signed on November 12, which was attended by Prime Infra chairman Enrique Razon Jr. and president and CEO Guillaume Lucci, alongside senior officials from BDO Unibank, Inc. and the Bank of the Philippine Islands (BPI), which served as lenders. BDO Capital acted as mandated lead arranger and bookrunner.“This partnership with our banking institutions reflects their confidence in Prime Infra’s long-term strategy on energy security. This financing strengthens our position in natural gas and supports our goal of building an integrated energy platform that the country can rely on for decades,” said Lucci.The financing backs Prime Infra’s acquisition of majority stakes in key natural gas facilities: the 1,000-megawatt Santa Rita, 500-MW San Lorenzo, 450-MW San Gabriel, and 97-MW Avion power plants, as well as the proposed 1,200-MW Santa Maria project. First Gen retains a 40-percent interest in the assets, which form the backbone of the Philippines’ natural gas power supply.Prime Infra’s expansion also covers the offshore liquefied natural gas terminal in Batangas, where it now holds a 60-percent stake. First Gen and Japan’s Tokyo Gas each maintain 20 percent.The ceremonial signing gathered senior representatives from the participating financial institutions, including BDO chair Teresita Sy-Coson, several BDO and BDO Capital executives, and BPI senior officers. Prime Infra officials present included chief financial officer Sandy Alipio, chief legal officer Philip Ranada, and treasury head Emma Villa del Rey.The deal marks one of the country’s largest energy-related financing agreements this year, underscoring the sector’s strategic role as the Philippines accelerates its transition toward more reliable and diversified power sources.

The financing backs Prime Infra’s acquisition of majority stakes in key natural gas facilities.

Prime Infra secures loan for buying First Gen gas assets

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Prime Infra secures loan for buying First Gen gas assets

ABS-CBN News

Published November 20, 2025 03:22 PM PHT

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