Metro Pacific Tollways Corp. is tentatively scheduled to set on Thursday, November 13, the interest rates on the fixed-rate bonds it plans to issue to finance various toll road projects.
MPTC plans to raise as much as P20 billion, including P5 billion for oversubscription, from the issuance of 3-year, 5-year and 10-year fixed-rate bods. The debt paper wil be offered to the public between November 17-21, and is scheduled for issuance on December 2.
Proceeds of the bond will partially fund MPTC’s Manila Cavite Expressway, Cavite Laguna Expressway, and Lapu Lapu Expressway, partiially fund existing bridge facility used to fund new investments, and fund other general corporate purposes.
Philippine Rating Services Corp. rates MPTC bonds at PRS Aaa with stable outlook.
The bonds, which have early redemption options, will mature in 2028, 2030 and 2035.
