August 29, 2025 | 12:00am
MANILA, Philippines — Land Financial institution of the Philippines has pledged P60 billion to the Energy Sector Belongings and Liabilities Administration Corp. (PSALM), supporting fiscal sustainability and power reforms.
The ability will increase PSALM’s working capital, refinance current obligations and settle home liabilities, enabling the state-run agency to ship its mandate below the Electrical Energy Business Reform Act.
Landbank president and CEO Lynette Ortiz mentioned the alternate demonstrates the collective dedication to strengthen the Philippine energy sector, describing it as important to shaping the nation’s financial future and enhancing the standard of life of each Filipino.
“This transaction displays our collective resolve to strengthen the Philippine energy sector, an business elementary to shaping the way forward for our financial system and uplifting the lives of each Filipino,” she mentioned.
Serving as one of many joint lead arrangers and lenders, Landbank dedicated the majority, or 60 %, of the full P100 billion syndicated time period mortgage facility prolonged to PSALM.
The proceeds will help PSALM by augmenting working capital, refinancing liabilities and settling home contractual obligations important to sustaining fiscal stability and power sector reform.
Landbank has supported PSALM since 2008, offering financing help to maintain the state-run agency’s packages and assist fulfill its mandate within the energy sector.
It additionally performs a big function in advancing the nation’s power agenda, extending financing to main business gamers resembling oil companies and energy producers.
This features a key function in advancing the power agenda by financing main business gamers, together with oil corporations and energy producers.
PSALM remitted its all-time excessive dividend remittance of P8.96 billion to the Treasury in July. Underneath the regulation, government-owned or managed firms, like PSALM, should remit at the least 50 % of their web earnings in the course of the previous yr as dividends.
