NLEX Corp., Chinabank forge P10-B loan agreement

MANILA: To support its expansion and enhancement projects, NLEX (North Luzon Expressway) Corporation has entered into a 10-year term loan agreement with China Banking Corporation (Chinabank) amounting to P10 billion.

In a statement, Metro Pacific Tollways Corporation (MPTC) President and General Manager Rogelio Singson shared that the amount 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,” he explained.

Part of the loan proceeds will also be used for the remaining funding requirement of the Candaba Third Viaduct — which is currently 95 percent complete.

The tollway operator shared that it targets to complete the project 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 kilometers of the bridge remains under construction.

“The Candaba Third 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 noted.

Signing the agreement were MPTC’s Singson, Christopher Lizo (Chief Finance Officer), NLEX Corporation’s Luigi Bautista (President and General Manager), Maria Theresa Wells (Chief Finance Officer), as well as Chinabank’s Manolet Moreno (First Vice President and Team Head) and Lilian Yu (Executive Vice President and Head of Institutional Banking Segment).

NLEX Corporation is a subsidiary of the Metro Pacific Tollways Corporation (MPTC), the toll road arm of the Metro Pacific Investments Corporation (MPIC).

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