BDO leads ₱50-B financing for Prime Infra’s gas asset acquisition

MANILA, Philippines — BDO Unibank Inc. anchored a ₱50-billion financing facility that enabled Prime Infrastructure Capital Inc. to acquire a 60% controlling stake in the gas assets of First Gen Corp., in one of the Philippines’ largest energy-sector deals in recent years.

BDO financed 60% of the total loan facility under a 10-year term.

BDO Capital & Investment Corp. acted as mandated lead arranger, while BDO Trust Investments Group served as facility agent and collateral trustee.

Prime Infra said the acquisition supports the expansion of the country’s natural gas value chain and strengthens energy security as the Philippines transitions to cleaner power sources.

“BDO’s role in Prime Infra’s investment supports our broader push to scale the country’s natural gas infrastructure,” Prime Infra President and Chief Executive Officer Guillaume Lucci said.

He added that the investment is essential to building a more reliable power system.

BDO Capital President Ed V. Francisco said the transaction underscores BDO’s commitment to financing critical infrastructure projects that support national development.

The gas assets include the Clean Energy Complex in Batangas, which provides more than 2,000 megawatts of generation capacity.

The complex plays a role in the government’s target of increasing the country’s renewable energy share to 35% by 2030 and 50% by 2040 under the Philippine Energy Plan 2023–2050.