The deadline was imposed by the SEC for the submission of documents detailing how CAP proposes to settle its P2.459-billion trust fund deficiency.
A spokesman said CAP will infuse additional cash, besides the P136.9 million in cash and real estate already deposited in its fund.
The deficiency balance will be met through the infusion of assets backed by letters of credit, securities and debt instruments.
CAP is also banking on the securitization of the bulk of Metro Rail Transit (MRT)’s rental fees over the next 25 years to boost its trust fund. The bond issue is expected to generate a maximum of $378 million in up-front cash for the MRT consortium members.
The MRT consortium is composed of the Fil-Estate Group headed by Robert John Sobrepeña, Anglo-Philippine Holdings Corp., Railco Investment, Sheridan LRT Holdings and DBH Inc.