METRO Pacific Tollways Corp. (MPTC) unit NLEX Corp. secured a P10-billion loan from China Banking Corp. to finance its capital expenditure (capex) program and refinance maturing debts.
The 10-year loan facility agreement signed by the two companies will support NLEX’s expansion and enhancement projects that aim to elevate the travel experience of motorists.
“The loan proceeds will fund NLEX Corp.’s capital expenditure program and refinance its maturing debt. This will help us accomplish our targets – to provide better infrastructure and improve the travel experience of our motorists,” Rogelio Singson, MPTC president and chief executive officer, said in a statement on Thursday.
A portion of the proceeds will also be used for the remaining funding requirement of the Candaba 3rd viaduct.
The Candaba 3rd viaduct project is 95 percent complete and is targeted to be operational before the Christmas rush.
The areas covering Pulilan to some parts of Apalit are now being utilized by Manila-bound motorists, and only 1.2 kilometers of the bridge remains under construction.
Once completed, the Candaba 3rd viaduct will provide safer, faster and more convenient travel to motorists, the company said.
“The Candaba 3rd Viaduct also aims to boost socio-economic growth as it facilitates more efficient transport of goods and services. We have always been committed to seeking innovative ways to continuously improve our services, because the end goal is to contribute to our country’s economy and help improve the quality of life of every Filipino,” Singson added.
