NLEX gets P10-B loan from BPI

The North Luzon Expressway (NLEX) Corporation revealed that it took a P10 billion loan from the Bank of the Philippine Islands (BPI).

Per the toll road operator, the said loan will be paid for under a 10-year term.

The said amount — NLEX Corporation pointed out — will be used to fund its ongoing and future projects as well as to pay for its capital expenditures and refinance its maturing debt.

Present in the signing ceremony were NLEX Corp. Chief Finance Officer Maria Theresa Wells, Metro Pacific Tollways Corporation (MPTC) Chief Finance Officer Christopher Lizo, NLEX Cororation. 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,” Singson stated.

“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 referenced in his statement, is a new five-kilometer bridge in the middle of the two existing viaducts between Pampanga and Bulacan.

According to NLEX Corporatin, the said road project will be finished sometime in the fourth quarter of next year.

When completed, the NLEX Candaba third Viaduct project is expected to boost the safety and convenience of motorists as it increases its road capacity from three lanes without shoulders 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,” said Bautista.

Photos from North Luzon Expressway Corporation

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