MPTC lists P20-billion maiden bonds at PDEx
The first-ever bond offering of Metro Pacific Tollway Corp. (MPTC) showed strong investor confidence after attracting thrice its base issue size.
On Tuesday, Dec. 2, the tollway operator officially listed in Philippine Dealing & Exchange Corp. (PDEX), as scheduled, the P20 billion in bonds gained from its maiden offer. MPTC exercised the P5 billion oversubscription option on top of the original P15-billion offer.
In a statement, the firm said demand totaled at P45 billion.
“The strong take-up was driven by the confidence of our institutional and retail investors,” said Gilbert Santa Maria, MPTC president and CEO.
The bonds come in tenors of three, five and 10 years.
The three-year bonds due 2028 carry a 5.5-percent interest rate; the five-year bonds due 2030 have 5.8 percent and the 10-year fixed bonds due 2035 have 6.3 percent.
The Securities and Exchange Commission approved MPTC’s plan to offer the bonds in November.
Proceeds from the offering are intended to partially finance projects related to the Manila Cavite Expressway (CavitEx), Cavite Laguna Expressway (CaLax) and Lapu-Lapu Expressway.
Last year, Metro Pacific Tollway South forecast a 30-percent traffic growth of over 340,000 average daily motorists by end-2025, fueled by the completion of several key segments of CaLax and CavitEx C5 link. INQ
The construction of two major toll roads in CAVITEX-CALAX link—with commercial operations projected within this year—will bring MPT South’s total road network to 67 kilometers.
As of March 2025, the 44.6-kilometer four-lane CALAX is at 44 percent completion of its key segment in Governor’s Drive in Cavite.
With remaining construction of two subsections of CALAX — from Open Canal to Kawit and Governor’s Drive to Open Canal — the company is looking at completion by the first half of 2026.
Earlier this year, MPT VizMin also announced plans to connect the LLEX to Mactan-Cebu International Airport (MCIA), providing motorists a quicker route.
