NLEX Corp. said Thursday it signed a 10-year term loan facility agreement with China Banking Corp. amounting to P10 billion to finance its expansion and enhancement projects.
“The loan proceeds will fund NLEX Corp.’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,” said Rogelio Singson, president and chief executive of Metro Pacific Tollways Corp., the parent firm of NLEX.
Portion of the proceeds will also be used for the remaining funding requirement of Candaba third viaduct. Now 95-percent complete, the third viaduct is expected to be completed before the Christmas rush.
The areas covering Pulilan to some parts of Apalit are now being utilized by Manila-bound motorists, and only 1.2-kilomers of the bridge remains under construction. Once completed, the Candaba 3rd viaduct will provide safer, faster and more convenient travel to motorists.
“The Candaba 3rd 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 said.
NLEX earlier reported a net income of P5.6 billion from January to June, up by 24 percent from P4.51 billion in the same period last year.
The company recorded total revenues of P12.4 billion in the six-month period, or 20 percent higher than the same period in 2023 on increased traffic, toll rate adjustments and the added revenue stream from the newly-opened NLEX-SLEX Connector Road.
NLEX spans about 105 kilometers or 598 lane-kms. and services an average of 323,791 vehicles per day as of end-2023.
