Maynilad Water Services Inc. on Wednesday received confirmation from the Securities and Exchange Commission (SEC) for its proposed Series A Blue Bonds due 2029 and Series B Blue Bonds due 2034.
The company plans to issue the bonds in accordance with its sustainable finance framework and in compliance with the requirements of the Asean green bond standards, subject to compliance with all applicable regulatory requirements and the issuance by the SEC of the requisite permit to offer securities for sale covering the bond issuance.
Maynilad is proposing to offer up to P12 billion fixed-rate Blue Bonds with an oversubscription option of up to P3 Billion to be issued in up to two series at 100 percent face value with tenors of five years and/or ten years indicatively from May 27 to May 31 this year, subject to securing the required regulatory approvals.
The company said this is the first Blue Bond public offering in the Philippines which has been rated PRS Aaa with a stable outlook by the Philippine Rating Services Corp. last March.
BPI Capital Corp. serves as the sole issue manager and together with BDO Capital and Investment Corp., First Metro Investment Corp. and East West Banking Corp. are joint lead underwriters and joint bookrunners of the offer.
