Manila Water gets P3-B funding for projects
Razon-led Manila Water Co. Inc. secured another long-term funding to finance various projects in its portfolio.
In a disclosure, the listed concessionaire said its wholly owned subsidiary Manila Water Philippine Ventures Inc. (MWPVI) signed a P3-billion loan with Security Bank Corp.
The 10-year-term loan facility would “be used exclusively to partially finance capital expenditures, fund existing projects of MWPVI’s subsidiaries or equity investments, and/or fund working capital or generate corporate purposes.”
MWPVI is Manila Water’s holding company for all its domestic operating subsidiaries. As stated on Manila Water’s website, MWPVI is on the lookout for new acquisitions and partnerships nationwide while leveraging on existing subsidiary businesses in Boracay, Cebu, Clark and Laguna.
