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Alternergy secures $137.4m loan for Tanay wind project
The lenders are BPI and Security Bank.
Alternergy Tanay Wind Corporation approved the $137.4m (P8b) omnibus loans and security agreement to partially fund the development of its wind project in Rizal province.
In a disclosure, Alternergy said Bank of the Philippine Islands and Security Bank Corporation will be the lenders for the transaction.
The loan deal will require the creation of a security interest over the shares of Alternergy Tanay that is held by Alternergy Wind Holdings Corp., and a sponsor undertaking by the corporation.
Alternergy Holdings previously said that it would raise around $211.1m for the construction of its wind projects in Tanay and in Quezon Province which have a total capacity of 164 megawatts.
$1 = PHP58.23
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