Manila North Tollways Corp. has announced that it has sealed a loan agreement worth Php 5 billion to fund its expansion projects as well as the refinancing of its existing debt. The company has entered into a fixed, 10-year term loan facility with Union Bank, according to one of the Securities and Exchange Commission’s filings.
A separate Php 5 billion loan deal with Philippine National Bank was also signed by MNTC last December 2015. The president of Metro Pacific Tollways, Rodrigo Franco, has also stated that the company aims to raise funds for both the NLEx road widening and the expansion project financing at NLEx.
