Metro Pacific Tollways Corp. has tapped the Bank of the Philippine Islands for a P3.6 billion loan facility to support its capital expenditure program and refinance existing debt.
The company said it entered into a 10-year fixed-rate term loan agreement with BPI for up to P3.6 billion.
“The proceeds of the term loan facility will be used by MPTC to finance its capital expenditure projects, equity funding, refinancing of existing indebtedness, and other general corporate purposes,” the company said.
The credit facility follows MPTC’s P20 billion fixed-rate bond sale in December aimed at funding new tollway projects and aggressive debt reduction.
Funds are earmarked for infrastructure development, including the construction and maintenance of major expressways—specifically the Manila-Cavite Expressway, Cavite-Laguna Expressway and the future Lapu-Lapu Expressway—as well as new investments and general corporate needs.
