Manila Water Co. Inc., has secured a 10-year P10 billion term loan facility with the Metropolitan Bank and Trust Co. to finance its capital projects this year and next.
In a disclosure to the Philippine Stock Exchange on Thursday, the utility company did not disclose particular allocations.
Earlier in June, Manila Water through subsidiary Manila Water Philippine Ventures Inc., also obtained a 10-year term loan for P1.53 billion with the Bank of the Philippine Islands (BPI) for deployment at Clark Water Corp.
It said the loan will partially finance Clark Water projects and pay its service concession obligations.
Loans secured by Manila Water and subsidiaries this year include the 10-year term loan for P200 million also with the Bank of the Philippine Islands for Bulakan Water Co. Inc. and another 10-year P3 billion term loan with the Land Bank of the Philippines.
Previously, Manila Water announced spending P105 billion as capital expenditures for water and wastewater projects over the next five years.
Manila Water serves customers in Makati, Pasig, Pateros, Marikina, Mandaluyong, San Juan, Taguig, some parts of Quezon City and Manila; and several towns in Rizal province that include Taytay, Teresa, Angono, Antipolo, Baras, Binangonan, Cainta, San Mateo and Rodriguez.
It has partnerships with water districts in Tagum, Davao del Norte; Bulacan; Clark in Pangasinan; Calasiao in Pangasinan; San Jose in Nueva Ecija; Laguna; Boracay in Aklan; Cebu; as well as property development through Estate Water.
Manila Water has concession operations in Thailand, Vietnam, Saudi Arabia, Indonesia and Myanmar.
