NLEX enters P10-B loan agreement with BPI

MANILA: The North Luzon Expressway (NLEX) Corporation has entered a P10-billion loan agreement with the Bank of the Philippine Islands (BPI).

According to the tollway company, the said amount — which will be paid in a 10-year term — will be used to fund the firm’s ongoing and future projects as well as fund its capital expenditures and refinance its maturing debt.

The said agreement was signed by NLEX Corporation Chief Finance Officer Maria Theresa Wells, Metro Pacific Tollways Corporation (MPTC) Chief Finance Officer Christopher Lizo, NLEX Corp. President and General Manager Luigi Bautista, MPTC President and Chief Executive Officer Rogelio Singson, BPI Executive Vice President and Segment Head of Institutional Banking Juan Carlos Syquia, BPI Senior Vice President (SVP) and Group Head of Corporate Banking Barbara Ann Untalan, and Top Corporates SVP and Division Head Juan Jesus Macapagal.

“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 third Viaduct,” said Singson.

“Our company remains committed in providing faster and more convenient travel. Thus, we also want to focus on improving our expressways and beyond just building roads,” he added.

The NLEX Candaba third Viaduct project, which Singson mentioned, is a new five-kilometer bridge in the middle of the two existing viaducts between Pampanga and Bulacan.

According to NLEX Corp., the said roadway is expected to be finished in the fourth quarter of 2024.

Upon completion, the NLEX Candaba third Viaduct project is anticipated to boost safety and convenience of motorists as it increases its road capacity from three lanes without shoulder 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,” Bautista noted.

Photos from North Luzon Expressway Corporation

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