SEC approves NLEX’s P25B bond offering
NLEX Corp. has obtained the Securities and Exchange Commission’s nod to issue P25 billion worth of bonds to help fund its tollroad projects .
The three-year bonds will be issued in tranches with the first one involving the sale of up to P6 billion bonds.
Proceeds from the offering will be used ill fund the R-10 Section project and for other general corporate purposes.
R-10 is a 2.6-kilometer elevated toll road, which will extend the C-3 road exit ramp of Segment 10 to R-10 Road near Port Area, Manila.