Metropolitan Bank & Trust Company – Trust Banking Group was appointed by Vivant Corp. as the Notes Facility Agent for the company’s P3 billion worth of fixed-rate Corporate Notes.
In a disclosure to the Philippine Stock Exchange, Vivant said the Notes Facility Agreement was signed on Friday and was arranged solely by First Metro Investment Corporation. The notes will have tenors of two years and five years which was signed.
The proceeds from the issuance of the Notes will be used to finance capital expenditures for existing assets and investments in power generation and/or water infrastructure projects and partly to refinance the existing 7-year Fixed Rate Corporate Notes maturing in February 2021.
Publicly listed Cebuano company Vivant maintains an optimistic outlook despite the effects of COVID-19 pandemic on its businesses and announces plans to invest further in energy and water infrastructure, including bulk water supply and wastewater treatment.
In 2019, Vivant Corporation reported a net income attributable to parent of P2.34 billion, a 35-percent increase over 2018’s P1.73 billion.
Vivant’s income is driven mainly by its power generation business. It recently announced plans to invest over P2 billion in renewable and energy storage technologies, as well as in the hybridization of existing power plants.