Manila Water secures P 10-B Metrobank loan

@MegINQ

Concessionaire Manila Water Co. Inc. will get a fresh P10-billion loan from Metropolitan Bank and Trust Co. to partially fund the water utility firm’s capital expenditure projects.

In a stock exchange disclosure on Thursday, Manila Water said the loan facility with Metrobank had a 10-year term.

Manila Water announced in 2022 that it would earmark P105 billion in capital expenditures in the next five years for its water and wastewater projects.

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The concessionaire has been securing funding for its capital spending in the past months to improve its services.

In August, the Razon-led firm’s subsidiary Laguna AAAWater Corp. closed a P1.6-billion loan with Bank of the Philippine Islands to partially finance capital expenditures in 2022 to 2025. INQ