BDO conditions P25-B funding on Lopez leadership continuity

MANILA, Philippines — BDO Unibank Inc. has issued standby letters of credit (SBLCs) worth a combined P24.75 billion to support First Gen Corp.’s acquisition of a 33-percent stake in Prime Hydropower Energy, Inc. (PHEI). In a statement on Friday, First Gen said the SBLCs—amounting to P9.9 billion and P14.85 billion—will help fund its investment in