Metro Pacific Tollways financing deals bag Asian infra awards; MPTC is ‘Project Sponsor of the Year’
Metro Pacific Tollways Corp (MPTC), developer and operator of the longest network of quality expressways in the Philippines, has reaped a bumper harvest of awards for its Philippine financing deals in this year’s Triple A Infrastructure Awards held in Singapore by the regional financial publication The Asset recently.
Citing its leadership in the domestic and regional tollway industry, MPTC won the “Project Sponsor of the Year” award for 2019 for the transport sector under the institutional awards category.
MPTC was recognized by the award-giving magazine for successfully closing big-ticket PPP financing deals in 2018 for three major Philippine toll road projects. Overall, the MPTC-sponsored deals obtained a total of P60 billion in financing.
MPTC President and CEO Rodrigo E. Franco, on being the Project Sponsor of the Year, said: “This award all the more underscores shareholder belief and commintment in all our cited infrastructure projects.”
Aside from MPTC’s award, the three MPTC-led infrastructure financing deals that won in the ASEAN country category awards are: Cavite Laguna Expressway (CALAX) as “PPP Deal of the Year”; Cebu Cordova Link Expressway (CCLEX) as “Transport Deal of the Year” and Cavite Expressway (CAVITEX) as “Transport Deal of the Year-Highly Commended”, respectively.
Christopher Daniel Lizo, MPTC chief finance officer, noted the significance of the awards, saying: “Given the difficult financing environment in 2018, the financing transactions related to these infrastructure projects are proof of the lenders’ solid support.”
The Asset’s Triple A Infrastructure Awards are Asia's preeminent recognition for firms that have demonstrated excellence in the area of infrastructure financing and building across major industries.
For over 20 years, the Asset Awards program has earned the respect of industries and enterprises.
The PPP Deal of the Year was given to the Cavite Laguna Expressway (CALAX) after the successful closing of the P24.2 billion omnibus loan and security facility, arranged by a consortium of banks for MPTC subsidiary MPCALA Holdings.
The 45-km toll road project represented the largest financing in the Philippines for a toll road project outside Metro Manila. “It was also the largest project finance deal in the country in 2018,” said Franco.
The Transport Deal of the Year went to the P19 billion financing for the Cebu Cordova Link Expressway (CCLEX), also sponsored by MPTC. When completed, the 8.5-km toll bridge project will connect Cebu City environs with Mactan Island, making it a major transport enabler for Cebu and the Visayas region.
The Transport Deal of the Year-Highly Commended recognition went to another MPTC-sponsored deal that closed the P16.2 billion loan facility to support the enhancement and capacity expansion works along the Cavite Expressway (CAVITEX).
MPTC is now the largest toll road developer and operator in the Philippines, holding three long-term operating concessions: the 97-km North Luzon Expressway (NLEX), 94-km Subic-Clark-Tarlac Expressway (SCTEX) and 14-km Manila-Cavite Toll Expressway (Cavitex).
In addition to CALAX and CCLEX, other ongoing domestic projects include the NLEX Connector, NLEX Harbor Link Segment 10 R-10 Section, CAVITEX C5 Southlink, CAVITEX Segment 1 Enhancement and CAVITEX Segment 4 Extension.
Now diversifying into a pan-ASEAN toll road investor, MPTC is the first Philippine tollway company to acquire significant stakes in three major infrastructure companies in the ASEAN region -- with substantial investments in PT Nusantara Infrastructure Tbk in Indonesia, CII Bridges and Roads in Vietnam, and Don Muang Tollway Public Limited in Thailand.