• MNTC TO RAISE P10 BLN TO FUND NEW ROAD PROJECT

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    The Manila North Toll Corp. (MNTC) said Monday that it may raise P10 billion in the fourth quarter of this year that will help finance the P18 billion North Luzon Expressway (NLEX)-South Luzon Expressway (SLEX) connector road project. MNTC president Rodrigo Franco said the firm is looking at raising about P10 billion immediately after getting Toll Regulatory Board (TRB) approval of the Supplemental Toll Operations Agreement. “We are hoping to raise funds again by the third or the fourth quarter of this year,” he said, adding that part of the funding requirement may be raised internally or from investors and about 70 percent will be in the form of debt.

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