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(From BusinessWorld (Philippines))
Byline: Cathy Rose A. Garcia
Lopez-owned power generation holding firm First Philippine Holdings Corp. has asked creditors for a one-month extension on the repayment of its $60-million loan.
In a disclosure to the Philippine Stock Exchange, First Philippine Holdings said its offshore unit FGHC International Ltd has asked its creditors to move the repayment date of $60 million worth of obligations under the facility to July 31 instead of June 30.
FGHC International had settled only $10 million, plus interest of its $70-million facility agreement, which matured last May 22. Creditors earlier agreed to move …