Manila Water gets P15-B loan from Metrobank
Manila Water Company Inc. has obtained a new long-term loan facility worth up to P15 billion. This is intended to support its capital spending program and general corporate needs, the company said on Tuesday.
In a disclosure, Manila Water said it signed a 10-year term loan facility with Metropolitan Bank & Trust Company Inc. (Metrobank) for such a purpose.
The proceeds from the loan will be used to finance the firm’s capital expenditure projects and other general corporate requirements.
“The loan will be used to finance Manila Water’s capital expenditure projects and/or general corporate requirements,” the company said.
The disclosure did not provide further details on the interest rate or drawdown schedule of the facility.
However, Manila Water said the financing aligns with its ongoing investment needs. This, as it continues to operate and expand its water and wastewater services.
Manila Water serves customers in the East Zone service area of the Metropolitan Waterworks and Sewerage System. This covers the eastern portion of Metro Manila as well as Rizal province.
The new loan facility adds to Manila Water’s existing financing arrangements as the utility continues to fund infrastructure investments and meet operational requirements amid rising demand for water and sanitation services.
Metrobank has recently been active in extending large-scale loan commitments to corporate borrowers across key sectors. These include water utilities and sustainable infrastructure.
In a related water sector deal, West Zone operator Maynilad Water Services Inc. tapped Metrobank for a P10-billion, 10-year loan in 2024.
