The Daily Tribune
MPTC seeks funds via P15-B bond sale
Metro Pacific Tollways Corp. (MPTC) is seeking approval from the Securities and Exchange Commission (SEC) for a proposed public offering of up to P15 billion in fixed-rate bonds, with an additional P5 billion available through an oversubscription option.
The bond issuance aims to raise funds for the construction and upkeep of the Manila-Cavite Expressway (CAVITEX), Cavite-Laguna Expressway (CALAX), and Lapu-Lapu Expressway (LLEX), as well as refinance bridge loan facilities and fund other general corporate purposes.
MPTC president and chief executive officer Gilbert F. Santa Maria stated that the issuance aims to bolster the company's fiscal position and ensure capital adequacy for continued infrastructure investment.
The bonds, which may be issued in up to three series with tenors of three, five, and 10 years, will be offered at par.
The offer period is set from November 17 to 21, with listing on the Philippine Dealing & Exchange Corp. (PDEx) targeted for December 2.
Philippine Rating Services Corp. (PhilRatings) assigned the bonds a PRS Aaa rating with a Stable Outlook.
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