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Press Releases

11

October 2011

SOUTH LUZON THERMAL ENERGY CORPORATION SIGNS P9-BILLION LOAN FACILITY

South Luzon Thermal Energy Corporation, the joint venture company established by Ayala Corporation subsidiary AC Energy Holdings, Inc., and Trans-Asia Oil and Energy Development Corporation, to undertake the construction and operation of a 135-megawatt Circulating Fluidized Bed (CFB) power plant project, signed a P9-billion project loan facility with lenders Banco de Oro Unibank, Inc., Security Bank Corporation, and Rizal Commercial Banking Corporation. The loan will be used to fund the construction of the project which is expected to be operational by mid-2014.