Press Releases
Year: 2021

PSALM thanks SORECO I for its prepayment of P202.1 million pursuant to its Restructuring Agreement

The Power Sector Assets and Liabilities Management Corporation (PSALM) received on 29 December 2020 a prepayment amounting P202,106,541.10 from Sorsogon I Electric Cooperative, Inc. (SORECO I). This prepayment is part of the Restructuring Agreement (RA) for SORECO I’s outstanding payables to PSALM. The Development Bank of the Philippines served as the partner bank, that extended a loan to SORECO I, and made this prepayment possible....