Vivant signs P3-billion note agreement

Vivant Corp. signed a P3-billion note facility agreement to finance capital expenditures and refinance maturing debt.

Vivant said in a disclosure to the stock exchange said notes had tenors of two and five years.

The company said it would use proceeds from the fund raising activity to finance capital expenditures for existing assets and investments in power generation or water infrastructure projects, and partly to refinance the fixed rate corporate notes maturing in February next year.

First Metro Investment Corp. arranged the issuance while Metropolitan Bank & Trust Company–Trust Banking Group acted as the facility agent.

Vivant earlier reported it is investing more than P2 billion in energy projects and looking to expand its water infrastructure business, including bulk water supply and wastewater treatment.