ABS-CBN
SEC approves Metro Pacific Tollways bond offer
Metro Pacific Tollways Corp. (MPTC) has received approval from the Securities and Exchange Commission (SEC) for its P15 billion fixed-rate bond offering, with an option to increase it by P5 billion.
The Series A bonds will have a three-year tenor, the Series B a five-year tenor, and the Series C a ten-year tenor.
MPTC President and CEO Gilbert F. Santa Maria stated that this offering will enhance the company's liquidity and diversify its capital sources.
The bond offer period is scheduled from November 17 to 21, with the bonds expected to be issued and listed on the Philippine Dealing and Exchange Corp. (PDEx) on December 2.
The proceeds are intended to partially fund MPTC's investments in the Manila-Cavite Expressway, Cavite-Laguna Expressway (CALAX), and Lapu-Lapu Expressway (LLEX), as well as refinance bridge facilities and for other corporate needs.
MPTC also operates the North Luzon Expressway (NLEX), Subic-Clark-Tarlac Expressway (SCTEX), and C5 Link.
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