Metro Pacific Tollways Corp, developer and operator of the longest network expressways in the Philippines, reaped a bumper harvest of awards for its Philippine financing deals in this year’s Triple A Infrastructure Awards, the Hong Kong-based financial publication The Asset announced recently.
Citing its leadership in the domestic and regional tollway industry, MPTC won the “Sponsor of the Year” award for 2019 under the institutional awards category—transport industry in the Asian region.
The Asset recognized MPTC as the sponsor for big-ticket PPP financing deals in 2018 for three major Philippine toll road projects, totalling P60 billion in financing.
On the Project Sponsor of the Year award MPTC president and CEO Rodrigo E. Franco said: “This award all the more underscores shareholder belief and commitment in all our cited infrastructure projects.”
Aside from MPTC’s award, the three MPTC-led infrastructure financing 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.”
The CALAX 45-km toll P24.2 billion road project, as the PPP Deal of the Year, represented the largest financing in the Philippines for a toll road outside Metro Manila, aside from being the largest project finance deal in the country in 2018.
The Transport Deal of the Year went to the P19-billion financing for MPTC’s Cebu Cordova Link Expressway (CCLEX). The 8.5-km. toll bridge will connect Cebu City environs with Mactan Island.
The Transport Deal of the Year-Highly Commended award went to the P16.2 billion loan facility to support the enhancement and capacity expansion works along MPTC’s Cavite Expressway (CAVITEX).
Christopher Daniel Lizo, MPTC chief finance officer, noted the significance of the awards: “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 infrastructure financing and building across major industries. For over 20 years, the Asset Awards program has earned the respect of industries and enterprises.
MPTC, the largest toll road developer and operator in the Philippines, holds three long-term concessions: the 97-km North Luzon Expressway (NLEX), 94-km Subic-Clark-Tarlac Expressway (SCTEX), and the 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.
MPTC is now a pan-ASEAN toll road investor, and is the first Philippine tollway firm to acquire stakes in three major infrastructure companies in the ASEAN region—in PT Nusantara Infrastructure Tbk in Indonesia, CII Bridges and Roads in Vietnam, and Dong Muang Tollway Public Limited in Thailand.