October 15, 2008

Energy Development Corporation

38th Floor, One Corporate Centre Building, Julia Vargas corner Meralco Avenue

Ortigas Center, Pasig 1605, Philippines

Trunklines: +63 (2) 667-7332 (PLDT) / +63 (2) 755-2332 (Globe)


June 4, 2015

JANET A. ENCARNACION

HEAD, Disclosures Department
The Philippine Stock Exchange, Inc. Philippine Stock Exchange Plaza
Ayala Triangle, Ayala Avenue, Makati City
Dear Ms. Encarnacion:
We write in compliance with the PSE‟s request for clarification as regard the news article entitled: "EDC to raise P5-B through syndicated loan next month" posted in Manila Bulletin (Internet Edition) on the June 3, 2015. The article reported in part that:
"Energy Development Corp. (EDC), the country‟s largest geothermal power producer, is planning to borrow P5 billion from banks next month to fund its maturing debt that forms part of the P12 billion worth of bonds the firm obtained three years ago.
Francis Giles Puno, Director of EDC, said the company intends to tap a syndicate loan with
three local banks in order to raise P5 billion. He hasn‟t identified the name of the banks yet.
"We‟re hoping to complete it [the fundraising] by July,‟ Puno said in an interview with reporters on the sidelines of EJAP-ING Investment Forum held in Makati on Wednesday.
. . . .
He added that the P5-billion loan will have a term of seven years.
. . . ."
We confirm that EDC, through one of its subsidiaries, is planning to raise Php5 billion financing, but the commercial terms are still being negotiated. We will apprise the exchange once definitive documents are executed.

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