July 10, 2014

The Philippine Stock Exchange, Inc.

3
rd
Floor, The Philippine Stock Exchange Plaza
Ayala Triangle
Ayala Ave. cor. Paseo de Roxas
Makati City


Attention: Ms. J anet A. Encarnacion
Head, Disclosure Department


Gentlemen:

Attached please find a duly-accomplished SEC Form 17-C pertaining to the execution of a
US$265MM export credit facility for First Gens 414 MW San Gabriel power plant.

Thank you.






Very truly yours,

RACHEL R. HERNANDEZ
Corporate Secretary

















SECURITIES AND EXCHANGE COMMISSION

SEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. July 10, 2014
Date of Report (Date of earliest event reported)

2. SEC Identification Number A1998-18260 3. BIR Tax Identification No. 202-464-633

4. FIRST GEN CORPORATIONExact name of issuer as specified in its charter

5. Metro Manila, Philippines................................ 6. (SEC Use Only)
Province, country or other jurisdiction of
incorporation
Industry Classification Code:

7. 3F Benpres Building, Exchange Road cor. Meralco Avenue, Pasig City 1600.
Address of principal office Postal Code

8. (632) 449-6400Issuer's telephone number, including area code

9. N/A Former name or former address, if changed since last report

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class Number of Shares of Common Stock Outstanding
and Amount of Debt Outstanding
(as of June 30, 2014)
Common Stock 3,363,913,757 shares

11. Indicate the item numbers reported herein: Item No. 9

Please see attached press statement.

SIGNATURE

Pursuant to the requirements of the Securities Regulation Code, the issuer has duly caused this
report to be signed on its behalf by the undersigned hereunto duly authorized.



FIRST GEN CORPORATION July 10, 2014
Issuer Date
By:
RACHEL R. HERNANDEZ
Corporate Secretary



PRESS STATEMENT

First Gen subsidiary obtains $265 MM export credit facility
for 414 MW San Gabriel power plant

First Gen Corporations (First-Gen) wholly-owned subsidiary First NatGas Power Corp.
(FNPC) today signed a US$265 million export credit facility with KfW IPEX-Bank of Germany
(KfW) with a tenor of 13.7 years to partially finance the 414 MW San Gabriel natural gas-
fired power project. This facility has an export credit guarantee provided by Euler Hermes,
acting on behalf of the Federal Republic of Germany. The proceeds of the loan will be used
primarily to finance the eligible German and non-German goods and services under the
Equipment Supply Contract of the San Gabriel power plant with Siemens AG, the equipment
supplier.

Construction of the 414 MW San Gabriel plant is progressing with site preparation and
piling activity in Batangas City, as well as the manufacturing of key power plant components
overseas. We need to make sure that the plant is built and commissioned on time as it will
provide much-needed additional supply to the Luzon grid in the first half of 2016. Although
it is envisioned to run on a mid-merit basis, if needed, it can also run on base load.
According to Siemens, by the time the San Gabriel plant, which will utilize the SGT6-8000H
technology turbine, turns commercial in March 2016, it will be the most efficient gas-fired
power plant in Southeast Asia with an efficiency of more than 60%, First Gen President and
COO Francis Giles B. Puno said.

Closing this US$265 million term loan from KfW of Germany is a testament to the strength
and viability of the San Gabriel project. We are certainly proud to again have KfW as an
anchor lender as it was for Santa Rita and San Lorenzo, our previous landmark gas power
projects. KfW is solely underwriting this transaction and has been very supportive of First
Gens strategy to develop cleaner and lower-carbon sources of power generation facilities
in the country, he added.

Markus Scheer, the responsible member of the Management Board of KfW, said that "This
project is an example of successful exporting of German high technology with added
value. After completion, San Gabriel will be the most efficient combined cycle gas-fired
power plant not only in the Philippines but in the rest of Southeast Asia, a real showcase
project for the energy market in the whole region. Thus, key German technologies are
helping to relieve the burden on the environment."



As previously disclosed, this San Gabriel project is one of three similar units that we are
developing in Batangas City totaling 1,350 MW. We have started pre-development activities
for future units that will enable us to accelerate their development and provide additional
capacity to the Luzon grid in 2017 due to its tight supply situation. This will also be
dependent on the availability of additional natural gas from the Malampaya field before
imported liquefied natural gas can possibly be delivered in the 2019 or 2020 timeframe,
Mr. Puno said.

First Gen is a leading Philippine power generation company primarily focused on
indigenous, clean and renewable fuels. With a capacity of 2,763 MW, it accounts for
approximately 25% of total installed capacity in the country today. In addition to the Santa
Rita and San Lorenzo power facilities, First Gen is pioneering the development of additional
gas-fired power plants as well as a liquefied natural gas (LNG) import and regasification
terminal facility. It also owns 2 hydroelectric power plants with a combined capacity of 132
MW.

First Gen likewise owns a controlling stake in Energy Development Corporation (EDC), the
largest supplier of geothermal energy in the Philippines. EDC is also developing a 150 MW
wind farm in Burgos, Ilocos Norte, which is scheduled to begin operations this year.