Megawide Construction Corporation (Megawide) is set to issue Php1.5 billion worth of peso-denominated fixed-rate notes this December, with a three-year tenor.
The notes will be enrolled at the Philippine Dealing & Exchange Corp. (PDEx) upon completion of all documentary requirements and approvals.
“Megawide enters an exciting new chapter as we build a more resilient, stable, and sustainable value creation story.
While we expect this year to be better than 2024, we are gearing up for stronger years ahead through more robust and efficient operations, anchored on our 4PH participation to boost revenues, and de-levering initiatives to strengthen our financial position and improve profitability,” said Edgar Saavedra, Megawide President and Chief Executive Officer.
The proceeds from the issuance will be utilized to refinance existing obligations and support general corporate purposes, including related fees and expenses.
“Over the past months, we have been taking deliberate steps to lay down the foundation for the Company’s long-term growth trajectory.
This fundraising is part of our bigger financial management program, which includes both de-levering short-term debt to improve liquidity and ease interest expenses and stretching out maturities to relax debt towers and optimize use of cash, especially during the Company’s growth build-up,” added Jez dela Cruz, Megawide’s Group Chief Financial Officer.
BDO Capital and Investment Corporation will serve as the sole arranger for this issuance, marking Megawide’s first offering of this kind.
Megawide remains optimistic about its financial performance, projecting a net income of at least Php1.2 billion for 2026, surpassing its 2024 results.
The company also reiterated its strong commitment to the 4PH program, leveraging its EPC expertise, increasing PCS utilization, and harnessing synergies across its operations.
