Land Bank of the Philippines said is extending majority of a P100-billion syndicated term loan facility to the Power Sector Assets and Liabilities Management Corp. (PSALM) in support of the government’s fiscal sustainability and energy sector reform efforts.
LandBank, one of the joint lead arrangers and lenders, committed P60 billion or 60 percent of the total syndicated term loan facility.
The proceeds of the facility will be used to augment PSALM’s working capital requirements, refinance existing liabilities and settle domestic contractual obligations.
PSALM president and chief executive Dennis Edward Dela Serna, LandBank president and chief executive Lynette Ortiz and DBP president and chief executive Michael de Jesus signed the syndicated loan facility agreement on July 17, 2025.
The signing was witnessed by government corporate counsel Solomon Hermosura.
“We are honored to be part of this important milestone, alongside our partners in government and development finance. This transaction reflects our collective resolve to strengthening the Philippine power sector — an industry that is fundamental to shaping the future of our economy and uplifting the lives of every Filipino,” said Ortiz.
LandBank and DBP acted as the joint lead arrangers for the syndicated deal, with LandBank-Trust Banking Group as the facility and paying agent, and the officer of the Government Corporate Counsel (OGCC) as the transaction counsel.
The loan will support PSALM fulfill its mandate under the Electric Power Industry Reform Act (EPIRA), which includes the management, privatization and optimal liquidation of the remaining assets and financial obligations of the National Power Corp.
LandBank said it has been a steadfast partner of PSALM since 2008, consistently providing essential financing in support of its programs.
 secures a P100-billion syndicated loan, with LandBank committing P60 billion to support the government's fiscal and energy sector reforms.%%excerpt%%){kind=link}