Metro Pacific Tollways Corp. (MPTC) said over the weekend it secured a permit from the Securities and Exchange Commission (SEC) to sell P20-billion peso-denominated, SEC-registered fixed-rate bonds.
The offer, rated “PRS Aaa” with a stable outlook by the Philippine Ratings Services Corp., consists of a base amount of P15 billion, with an oversubscription option for another P5 billion.
The net proceeds are intended to partially finance equity and advances for its major projects, including the Manila Cavite Expressway (CAVITEX), Cavite Laguna Expressway (CALAX) and Lapu-Lapu Expressway (LLEX). Funds will also be used to refinance an existing bridge facility and for other general corporate purposes.
The public offer period is scheduled to commence at 9 a.m. on Nov. 17, 2025 and end at 5 p.m. on Nov. 21, 2025.
MPTC said it plans to issue and list the bonds on the Philippine Dealing and Exchange Corp. on Dec. 2, 2025, subject to the satisfaction of all applicable regulatory requirements.
The bonds are intended to be issued at par, and interest will be calculated on a 30/360-day count basis, payable quarterly in arrears.
BPI Capital Corp. and First Metro Investment Corp. are serving as the joint issue managers.
Together with BDO Capital & Investment Corp., China Bank Capital Corp., PNB Capital and Investment Corp. and Security Bank Capital Investments Corp., they will also act as the joint lead underwriters and joint bookrunners for the offer.
