MVP Group gets P7B fresh financing for toll road projects

NLEX Corp. has obtained a term loan facility amounting to P7 billion from Metropolitan Bank & Trust Company to partly cover its capital expenditures and refinance existing debt.

The loan has a tenor of 10 years, said NLEX, the operator of North Luzon Expressway and Subic-Clark-Tarlac Expressway (SCTEx).

Among its major infrastructure projects in the pipeline are the P23.2 billion NLEX Connector Road, P2 billion NLEX C5 Link Mindanao Avenue-Quirino Highway section and the P5.5 billion Candaba third viaduct.

The company also intends to complete this year the NLEX Connector and start the construction of NLEX C5 Link Mindanao Avenue-Quirino and the Candaba third viaduct.

NLEX Corp. is a subsidiary of Metro Pacific Tollways Corp., the toll road arm of Metro Pacific Investments Corp.