Metrobank extends loans to Aboitiz Equity Ventures subsidiaries

MANILA - Metropolitan Bank & Trust Co. (Metrobank) recently extended a total of P20.5 billion in loans to two strategic business units of Aboitiz Equity Ventures (AEV).

Present in the loan signing were (from left): Liza Montelibano, Aboitiz Power Chief Finance Officer; Veronica So, Aboitiz Group Treasurer; Manuel Lozano, AEV outgoing Chief Finance Officer; Mary Mylene Caparas, Metrobank Head of Institutional Banking Sector; and Rose Tiamson, Metrobank Head of Large Corporates Division, Corporate Banking Group.

Therma Luzon, Inc., which is under the Group’s power business subsidiary Aboitiz Power, tapped Metrobank for a P15 billion loan to support its refinancing and general corporate requirements. It signed a 10-year loan with Metrobank, maturing in 2032, to primarily finance a portion of its remaining IPPA related obligations to government-run Power Sector Assets and Liabilities Management Corp.

Meanwhile, LIMA Land, Inc., which is part of the Group’s infrastructure business subsidiary Aboitiz InfraCapital, was provided a P5.5 billion loan by the Bank to bankroll the expansion of its real estate business in the LIMA Estate ecozone. 

To commemorate the partnerships, Metrobank handed Therma Luzon a custom-made artwork titled Power. Power is intended to be a symbol of progress and AEV through Therma Luzon is a strong advocate of empowering Filipinos. This sculpture represents power to the people.

For LIMA Land, Metrobank gave a custom-made sculpture, forged to symbolize the company’s pursuit for building infrastructures to promote growth and expansion aimed to improve the condition of the modern Filipino. (Mindanao Examiner)