NLEx secures P10B loan from Chinabank to expand operations
The operator of North Luzon Expressway (NLEx) obtained a P10-billion credit line from China Banking Corp. to expand its tollway operations and pay off obligations. In a statement on Thursday, NLEx Corp.—a subsidiary of Metro Pacific Tollways Corp. (MPTC)—said it had entered into a 10-year term loan facility agreement with the Sy-led bank. “The loan proceeds will fund NLEX Corporation’s capital expenditure program and refinance its maturing debt. This will help us accomplish our targets – to provide better infrastructure and improve the travel experience of our motorists,” MPTC president and CEO Rogelio Singson said. READ: Chinabank bottom line rises […]…
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