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Metro Pacific Tollways Corp. has received the Securities and Exchange Commission’s pre-effective approval for the company’s proposed offer to the public of up to P15 billion fixed-rate bonds
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The target public offer period will run from November 17 to 21, 2025
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The bonds will have an oversubscription option of up to P5 billion to be issued in up to three series with tenors of three, five, and/or 10 years
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The net proceeds from the offer will be used to partially finance continuing investment in the construction and upkeep of the Manila-Cavite Expressway, Cavite-Laguna Expressway, and Lapu-Lapu Expressway roadway infrastructure, and partially refinance bridge facilities
Metro Pacific Tollways Corp. (MPTC) has received the Securities and Exchange Commission’s (SEC) pre-effective approval for the company’s proposed offer to the public of up to P15 billion fixed-rate bonds.
The SEC nod was received on November 12 for the bonds, with an oversubscription option of up to P5 billion to be issued in up to three series with tenors of three, five, and/or 10 years, MPTC said in a press release.
The target public offer period will run from November 17 to 21, 2025.
The net proceeds from the offer will be used to partially finance continuing investment in the construction and upkeep of the Manila-Cavite Expressway (CAVITEX), Cavite-Laguna Expressway (CALAX), and Lapu-Lapu Expressway (LLEX) roadway infrastructure, partially refinance bridge facilities as well as fund other general corporate purposes.
“This maiden bond offering strengthens MPTC’s liquidity and diversifies its sources of capital,” said MPTC president and CEO Gilbert Santa Maria.
“The proceeds will fund our ongoing investments and expansion projects, consistent with our mission to build essential infrastructure that supports nation-building and economic progress,” he said.
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The bonds are intended to be issued at par, and interest on the bonds will be calculated on a 30/360-day count basis to be paid quarterly in arrears.
Philippine Ratings Services Corporation has rated the bonds with a PRS Aaa rating with Stable Outlook on September 26, 2025.
MPTC intends to issue and list the bonds on the Philippine Dealing & Exchange Corp. on December 2.
The bond offer is subject to MPTC’s compliance to all applicable regulatory requirements and the receipt from the SEC of a permit to sell the bonds.
BPI Capital Corporation and First Metro Investment Corporation are the Joint Issue Managers. BDO Capital & Investment Corporation, China Bank Capital Corporation, PNB Capital and Investment Corporation, and Security Bank Capital Investment Corporation, are the Joint Lead Underwriters and Joint Bookrunners.
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