NLEX Corp. has signed a P10-billion loan facility with Bank of the Philippine Islands (BPI) to finance its expansion projects and refinance maturing debts.
In a statement, NLEX, a subsidiary of Metro Pacific Tollways Corp. (MPTC), said it entered into a 10-year term loan facility agreement with BPI to partially fund its capital expenditures and refinance its maturing debt.
“This loan agreement will help us to meet our current obligations with our key stakeholders and finance all repairs and maintenance of the expressway as well as our ongoing and future projects like the Candaba 3rd Viaduct,” said Rogelio Singson, president and chief executive officer of MPTC.
“Our company remains committed to providing faster and more convenient travel. Thus, we also want to focus on improving our expressways and beyond just building roads,” Singson added.
The NLEX Candaba 3rd Viaduct project is a new five-kilometer bridge in the middle of the two existing viaducts between Pampanga and Bulacan.
The project is expected to be completed by the fourth quarter of 2024. It will boost the safety and convenience of motorists as it increases the road capacity from three lanes without shoulders to three lanes with inner and outer shoulders in each direction.
“This project is just one of our company’s major initiatives in solving the growing traffic demand of the north. In partnership with the government, we aim to contribute to elevating the transportation system of the country,” said J. Luigi Bautista, NLEX president and general manager.
