MANILA -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.
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.