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MRT III consortium to issue P1B in asset-backed securities.
(From Philippine Daily Inquirer)
Byline: Doris C. Dumlao
THE METRO Rail Transit III consortium is ready to push through with its secondary offering of over $1 billion worth of asset-backed securities to raise fresh funds for expansion and debt refinancing.
In a disclosure to the Philippine Stock Exchange yesterday, consortium members Anglo Philippine Holdings Corp. and Fil-Estate Corp. said the offering and secondary placement of these asset-based notes or MRT bonds would complete the securitization of the share distributions of the MRT-3 consortium members.
The bonds are backed by the equity rental payments of the Department of Transportation and Communication under the build-lease-transfer agreement with the Metro Railway Transit Corp.
PentaCapital Investment Corp. was appointed the lead underwriter and ...
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