To support lined-up expansion and enhancement projects that aim to elevate the travel experience of motorists, NLEX Corporation entered into a 10-year term loan facility agreement with China Banking Corporation amounting to Ten Billion Pesos (Php10,000,000,000.00).
The said agreement was signed by (from left to right) Ms. Maria Theresa O. Wells, NLEX Corp. Chief Finance Officer, Mr. Manolet Moreno, China Bank’s First Vice President and Team Head, Ms. Lilian Yu, China Bank’s Executive Vice President and Head of Institutional Banking Segment, Mr. J. Luigi L. Bautista, NLEX Corp President and General Manager, Mr. Rogelio S. Singson, MPTC President and CEO and Mr. Christopher C. Lizo, MPTC Chief Finance Officer.
“The loan proceeds will fund NLEX Corporation’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,” said Singson.
Portion of the proceeds will also be used for the remaining funding requirement of Candaba 3rd viaduct. Now 95% complete, the tollway company targets delivering it before the Christmas rush. Currently, the areas covering Pulilan to some parts of Apalit are now being utilized by Manila-bound motorists, and only 1.2 km of the bridge remains under construction. Once completed, the Candaba 3rd Viaduct will provide safer, faster, and more convenient travel to motorists.
“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.
NLEX Corporation is a subsidiary of the Metro Pacific Tollways Corporation (MPTC), the toll road arm of the Metro Pacific Investments Corporation (MPIC).
