EDC borrows P5 B for capex

Lopez-led Energy Development Corp. (EDC) has borrowed P5 billion from Union Bank of the Philippines to finance its capital spending this year.

EDC disclosed yesterday it executed a loan agreement with UnionBank for the total amount of P5 billion.

The amount loaned will help augment the company’s cash requirements this year, EDC vice president for corporate finance Erwin Avante said in a text message.

Read more here.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s