Vivant unit taps Metrobank for up to P2.75-billion loan

Vivant unit taps Metrobank for up to P2.75-billion loan

A SUBSIDIARY of listed Vivant Corp. signed a five-year term loan facility agreement with Metropolitan Bank & Trust Co., securing additional funding for its power generation projects.

In a regulatory filing on Wednesday, Vivant Corp. said its unit, Vivant Energy Corp., secured the loan of up to P2.75 billion to “partially finance Vivant Energy’s investments in power generation projects and other capital expendi-ture requirements.”

Vivant Corp. is a Cebu-based listed company that has business interests in power generation, electricity distribution, and retail electricity supply.

Vivant Energy is its fully-owned subsidiary that manages the investments in energy distribution and generation, retail electricity supply, and energy-related engineering solutions in Luzon, the Visayas, and Mindanao.

Vivant Energy recently secured a five-year P3.5 billion term loan facility agreement with BDO Unibank, Inc. to partially finance its investments in power generation projects.

For the third quarter, Vivant Corp. logged a P596.13 million attributable net income, up by 18.6% from P502.72 million in the same period a year ago.

Shares of Vivant Corp. at the local bourse were last traded on Dec. 4 at P14.22 apiece. — Revin Mikhael D. Ochave