NLEX enters a P10-B loan agreement with Chinabank

NLEX (North Luzon Expressway) Corporation and China Banking Corporation (Chinabank) have forged a loan agreement amounting to P10 billion.

To be settled in 10 years’ time, the said amount from the financing firm will be used to support the tollway operator’s expansion and enhancement projects.

Metro Pacific Tollways Corporation (MPTC) President and General Manager Rogelio Singson shared in a statement 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.

In addition, a portion of the loan proceeds will be utilized for the remaining funding requirement of the Candaba Third Viaduct — currently 95-percent complete. Per the tollway firm, the project is eyed to be finished 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 was quoted as saying.

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).

Also read:

NLEX gets P10-B loan from BPI

BPI waives up to P171K in auto and housing loans to mark 171st year

NLEX, Leighton forge deal for Candaba 3rd Viaduct project