Metro Pacific Investments Inks PhP19B Omnibus Loan Agreement for CCLEC

Cebu Cordova Link Expressway Corp. (CCLEC), an indirect subsidiary of Metro Pacific Investments Corp. (MPIC, PSE: MPI), signed an omnibus loan and security agreement covering a PhP19 billion 15-year term loan facility provided by various banks.

The loan is secured by a pledge over CCLEC shares and a security interest over certain assets of CCLEC.

Proceeds of the loan will be used by CCLEC to fund the construction costs and other project costs of its toll road facility linking Cebu and Cordova with a cable-stayed bridge as part of the facility. The toll road facility will be utilizing an open system once it starts commercial operations sometime in 2021.

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