The Philippine Securities and Exchange Commission has approved Metro Pacific Tollways Corporation’s debt securities programme of up to PHP 20 billion, rendering effective the registration statement for its fixed-rate bond offering subject to the company’s compliance with remaining requirements. The offer comprises a base amount of PHP 15 billion with an oversubscription option of up to PHP 5 billion, across three-year Series A, five-year Series B, and 10-year Series C bonds to be offered at face value. If the oversubscription is fully exercised, net proceeds are expected to be around PHP 19.73 billion, to partially fund equity/advances for tollway projects, support debt refinancing, and meet other general corporate purposes. Based on the latest timeline submitted by the issuer, the offer period runs from 17 to 21 November, with issuance and listing on the Philippine Dealing & Exchange Corp. scheduled for 2 December. BPI Capital Corporation and First Metro Investment Corporation are acting as joint issue managers and will also serve as joint lead underwriters and joint bookrunners alongside BDO Capital & Investments Corporation, China Bank Capital Corporation, PNB Capital and Investment Corporation, and Security Bank Capital Investment Corporation.
Philippine Securities and Exchange Commission 2025-11-14
Philippine Securities and Exchange Commission approves Metro Pacific Tollways’ PHP 20 billion fixed-rate bond programme
The Philippine Securities and Exchange Commission approved Metro Pacific Tollways Corporation’s debt securities programme of up to PHP 20 billion, including a fixed-rate bond offering. The offer consists of a base amount of PHP 15 billion with an oversubscription option of up to PHP 5 billion, across three-year Series A, five-year Series B, and 10-year Series C bonds. Net proceeds, if fully subscribed, are expected to be around PHP 19.73 billion, aimed at funding tollway projects, debt refinancing, and other corporate purposes.