Manila Water Co. Inc. said its subsidiary, Laguna AAAWater Corp. through Manila Water Philippine Ventures Inc. (MWPV), signed a P1.6 billion 10-year term loan facility with the Bank of the Philippine Islands (BPI).
In a disclosure to the Philippine Stock Exchange yesterday, the company said proceeds of the loan will be used to partially finance Laguna Water’s capital expenditures for the years 2022 to 2025.
Laguna Water is a joint venture between MWPV and the provincial government of Laguna with shareholdings of 70 percent and 30 percent, respectively.
Laguna Water has the sole and exclusive right to operate and maintain water facilities to provide water services as well as sanitation services to all cities and municipalities in the province until 2035.
Prior to this development, other 10-year term loans secured by Manila Water and its subsidiaries this year include the P1.53 billion for Clark Water with BPI, P200 million also with BPI for Bulakan Water Co. Inc. as well as another P3 billion with the Land Bank of the Philippines. – Jed Macapagal
