Metro Pacific Tollways Corp. (MPTC), the toll road unit of Metro Pacific Investments Corp., is set to raise up to P15 billion from a public bond offering, with an oversubscription option of up to P5 billion, after securing pre-effective approval from the Securities and Exchange Commission (SEC) last Wednesday.
The bonds may be issued in up to three series with tenors of three, five, or ten years, at par, with interest calculated on a 30/360-day basis and paid quarterly.
Philippine Ratings Services Corporation assigned the bonds a PRS Aaa rating with a Stable Outlook on 26 September.
The public offer period will run from 17 to 21 November, with listing on the Philippine Dealing & Exchange Corp. expected on 2 December 2025, subject to regulatory approvals and the SEC’s permit to sell.
“This maiden bond offering strengthens MPTC’s liquidity and diversifies its sources of capital,” MPTC President and CEO Gilbert Santa Maria said in a media statement released Thursday.
“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.”
Particularly, the funds that will be generated from the offering will partly fund ongoing investments in the Manila-Cavite Expressway, Cavite-Laguna Expressway, and Lapu-Lapu Expressway, refinance bridge facilities, and support other corporate purposes.
BPI Capital Corp. and First Metro Investment Corp. are the Joint Issue Managers. Together with BDO Capital & Investment Corp., China Bank Capital Corp., PNB Capital and Investment Corp., and Security Bank Capital Investment Corp., they serve as Joint Lead Underwriters and Joint Bookrunners for the offering.