DBP backs P11.5-B syndicated term loan for TPLEX project

MANILA, Philippines -  State-owned Development Bank of the Philippines is one of the lead arrangers and lenders of the P11.5-billion syndicated term loan facility for the Tarlac-Pangasinan-La Union Expressway (TPLEX) project aimed at providing transportation and infrastructure support in northern and western Luzon.

Proceeds from the term loan facility will be used to develop and concretize the first phase of the TPLEX project to pave the way for a more cost-efficient, reliable and faster north-south access as well as ease traffic congestion along the McArthur Highway.

DBP president and chief executive officer Francisco F. Del Rosario Jr. said that the term loan facility expresses the strong commitment, partnership and initiative of the private sector, the public sector, and financial institutions to bring forth the basic services and infrastructure needed for the country’s development.

“For DBP, this initiative strengthens our strategic thrust of supporting infrastructure development necessary for developing self-sufficient and productive communities. With the continuing support from private and public partners, we are assured that we can always pursue viable developmental projects.”

BDO Capital and Investment Corporation is joint lead arranger while BDO Unibank and Land Bank of the Philippines are the other lenders for the said facility.