NLEX Corporation entered into a 10-year term loan facility agreement with the Bank of the Philippine Islands (BPI) to fund ongoing and future projects aimed at boosting the convenience and safety of those traversing its expressways.
With an aggregate amount of Ten Billion Pesos (PHP10,000,000,000), the proceeds will also partially fund its capital expenditures and refinance its maturing debt.
“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 3rd Viaduct,” said Singson.
Adding that, “Our company remains committed to providing faster and more convenient travel. Thus, we also want to focus on improving our expressways and beyond just building roads.”
The NLEX Candaba 3rd Viaduct project is a new five-kilometer bridge in the middle of the two existing viaducts between Pampanga and Bulacan. Expected to be completed by the 4th quarter of 2024, this will 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,” Bautista said.
NLEX Corporation is a subsidiary of the Metro Pacific Tollways Corporation (MPTC), the toll road arm of the Metro Pacific Investments Corporation (MPIC).