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Manila Bulletin devider Business devider The Stock Market devider Megawide raising ₱1.5 billion to refinance debt

Megawide raising ₱1.5 billion to refinance debt

Published Dec 5, 2025 04:50 pm
Megawide Construction Corp. is raising ₱1.5 billion from the issuance of three-year, peso-denominated fixed-rate notes this month as it takes advantage of lower interest rates to refinance obligations.
The firm informed the Philippine Stock Exchange (PSE) that the debt instrument will be enrolled at Philippine Dealing & Exchange Corp. (PDEx) once all documentary requirements and approvals are completed.
“Megawide enters an exciting new chapter as we build a more resilient, stable, and sustainable value-creation story,” said Megawide President and Chief Executive Officer (CEO) Edgar Saavedra.
He noted that, “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.”
The proceeds of the issuance will be used to refinance existing obligations and support general corporate purposes, including related fees and expenses arising from the exercise.
“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 Megawide Group Chief Financial Officer (CFO) Jez dela Cruz.
Megawide earlier said it is on track to exceed the previous year’s performance, with 2026 expected to bring in at least ₱1.2 billion in net income.
The company also announced its strong intent to participate in the 4PH program to capitalize on its engineering, procurement, and construction (EPC) expertise, increase precast and construction solutions (PCS) utilization, and harness synergies across the organization.

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Megawide Construction Corporation Edgar Saavedra Jez G. de la Cruz
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