ILECO III & LEYECO V Additional Investments

/ March 21, 2017/ 0 comments

In 2016, the Rural Electrification Financing Corporation (REFC) released Php241,681,590 in loans to fund projects of borrowing member-ECs intended to improve their operation and financial viability. With the company showing steady growth in lending activity, member-Electric Cooperatives (ECs) are seeing value for their money and showed their support by putting in additional investments to beef up the funding resources of

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93rd Investor Electric Cooperative

/ March 16, 2017/ 0 comments

A new investor Electric Cooperative (EC) has recently joined the Rural Electrification Financing Corporation (REFC), with an initial investment of 250 shares or Php250,000. By virtue of their Board Resolution No. 59-2016, the North Cotabato Electric Cooperative, Inc. – PPALMA (COTELCO-PPALMA) becomes the 93rd shareholder of the REFC family. This was revealed by REFC Board President Gabriel Tordesillas during the

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REFC Extended ₱241.6 M Loans in 2016

/ February 24, 2017/ 0 comments

The Rural Electrification Financing Corporation (REFC), a financing company owned by ninety-two (92) electric cooperatives (EC’s) as of date, approved loan applications from twenty-five (25) borrower-ECs amounting to ₱395.5M in 2016. This is 71.42% increase compared to the approved loans in 2015 amounting to ₱230.7 Million. By type, CAPEX comprised the biggest loan approved by the Board amounting to ₱127,469,357

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INEC subscribes additional equity into REFC

/ February 14, 2017/ 0 comments

Following a profitable year in 2016 for REFC, the Ilocos Norte Electric Cooperative, Inc. (INEC) subscribed an additional equity of ₱5 Million early in 2017. This is in answer to the call for additional subscription sent by REFC to all its investor-ECs to subscribe the remaining ₱80 Million available out of its ₱700 Million capitalization. The investor-ECs have been their

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2016 Growth in Investment

/ February 2, 2017/ 0 comments

The Rural Electrification Financing Corporation (REFC) culminated its 2016 operations with sustained growth. From 81 EC-Investors and NRECA as of December 31, 2015, 10 more electric cooperatives joined the corporation listing 93 stockholders by year end. The growth in the number of investors remarkably shows that the Electric Cooperatives (ECs) are seeing the value for their investment. Thanks to the

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REFC & RETC Support PHILRECA Initiatives

/ September 29, 2016/ 0 comments

REFC and RETC showcased their product and services during the PHILRECA 2016 Exhibition on Rural Electrification, in celebration of the 37th PHILRECA Annual Membership Meeting held in SMX Davao City last August 3 and 4, 2016. Headed by their President, Engr. Gabriel A. Tordesillas, and members of the Board, the REFC and RETC Delegation comprised of representatives from its local

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14 New Stockholders Joined REFC in 2015

/ September 29, 2016/ 0 comments

“Many Electric Cooperatives (ECs) have shown interest of investing in the Rural Electrification Financing Corporation (REFC), a financing company owned by the ECs. To date, we have 75 member-ECs out of the 120 ECs throughout the country”, said REFC Board President, Engr. Gabriel Tordesillas of CAGELCO II during the 15th Annual Stockholders’ Meeting held at the Grand Chardonnay in Pasig

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2015 Loan Releases exceed Php150 Million Target

/ September 29, 2016/ 0 comments

The Rural Electrification Financing Corporation (REFC) announced its loan releases for 2015 has exceeded Php179.145 Million, or 19.43% over the target of Php150 Million. This only shows that REFC is true to its vision and mission of providing the ECs with an assured source of funds to improve their operations. “We have released a total of more than Php179 Million

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NEA Administrator Challenges REFC

/ September 29, 2016/ 0 comments

“You need to show that you are independent. You need to show that you are strong. And you need to show NEA that, one of these days, you will take over the lending function. I’d like to see that through”, inspired no less than Administrator Edita S. Bueno, of the National Electrification Administration (NEA), during the 15th Annual Stockholders’ Meeting

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Increase in Capitalization to Php700 Million

/ September 29, 2016/ 0 comments

With the growing demand for loans from member-Electric Cooperatives (ECs), the Management of the Rural Electrification Financing Corporation (REFC) proposed to its Board of Directors (BOD) to revisit its authorized capitalization. The BOD, realizing the impact this has on REFC operation, unanimously agreed to increase its capitalization from Php400 Million to Php700 Million. The increase has been ratified during the

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