Maynilad secures P10-B loan from Metrobank

Maynilad secures P10-B loan from Metrobank

/ 05:00 PM May 23, 2024

Maynilad secures P10-B loan from Metrobank

Metrobank Institutional Banking Sector head Mylene Caparas (left) and Maynilad COO Randolph T. Estrellado at the signing of Maynilad’s P10-billion loan deal with Metrobank.

MANILA, Philippines — West Zone concessionaire Maynilad Water Services Inc. (Maynilad) has secured a P10-billion loan from Metropolitan Bank & Trust Co. (Metrobank) to support its capital requirements for the year, aiming to enhance water service coverage and availability for consumers.

Maynilad said the 10-year loan, maturing in 2034, will fund its capital expenditure needs for this year.


Specifically, the loan proceeds will be used to enhance water service coverage, increase water sources, reduce non-revenue water, improve sewerage coverage and treatment facilities, upgrade water treatment plants and facilities, and improve overall water availability.


Capital expenditure program

“With this loan, we are in a better position to pursue our capital expenditure program, which will further enhance water services for our over 10.3 million customers. This supports our commitment to meet our service obligations and achieve sustainable growth,” said Maynilad Chief Operating Officer Randolph T. Estrellado.

“Enabling our partners to empower Filipinos with essential resources aligns with our goal of helping communities grow,” said Metrobank Institutional Banking Sector head Mylene Caparas.

Maynilad is the largest private water concessionaire in the Philippines in terms of customer base. It is the concessionaire of the MWSS for the West Zone of the Greater Manila Area, which includes the cities of Manila (excluding portions of San Andres and Sta. Ana), Quezon City (west of San Juan River, West Avenue, Edsa, Congressional, Mindanao Avenue, and the northern part starting from the districts of Holy Spirit and Batasan Hills), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, and Malabon—all in Metro Manila. It also covers the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario in Cavite Province.

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This article was generated with the aid of artificial intelligence and reviewed by an editor.

TAGS: AI Generated Content, Maynilad, Metrobank

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