Maynilad Water Services, Inc. has received Securities and Exchange Commission (SEC) approval of its P15 billion blue bond sale program destined for its marine and ocean-based projects.
To be offered at face value from 27 to 31 May, the bonds are set for listing at the Philippine Dealing and Exchange Corp. on 7 June this year.
Maynilad has tapped BPI Capital Corp. as the sole issue manager. BPI Capital acts as joint lead underwriter and joint bookrunner together with BDO Capital and Investment Corporation, First Metro Investment Corporation and East West Banking Corp.
The company said the bonds have been rated PRS Aaa with a stable outlook by the Philippine Rating Services Corp. last March.
Maynilad operates the largest private water concession in terms of customer base serving the cities of Manila, Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon as well as the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario in Cavite Province.
