MANILA Water Co. Inc. through its subsidiary, Manila Water Philippine Ventures Inc. (MWPVI) has secured another P3 billion term loan facility from Security Bank and Metrobank.
The amount is on top of the P4 billion term loan agreement that was also provided by the co-lenders to Manila Water in October 2016.
In a disclosure to the Philippine Stock Exchange, the company said proceeds of the loan will be used to partially finance MWPVI’s capital expenditure programs and expansion projects.
Manila Water assured contingency measures are in place to ensure business continuity and to safeguard the health and safety of employees and customers in view of the COVID-19 pandemic.
“As we face the unprecedented challenges posed by the COVID-19 pandemic, we should work even more closely with our partners and stakeholders so we can continue to provide reliable service. Only by working together can we find safer, more effective and innovative ways of serving our customers under this new normal,” said Rene Almendras, Manila Water president and chief executive officer.
