Maynilad eyeing up to P35b in bilateral loans to fund capex

I show You how To Make Huge Profits In A Short Time With Cryptos!

Maynilad Water Services, Inc. (Maynilad) is setting its sights on a multi-billion fundraising round in 2025 to finance its ambitious capital expenditure (capex) program, fresh from its successful P15-billion blue bond offering.

Maynilad president and chief executive Ramoncito Fernandez said the water company was looking to raise P25 billion to P35 billion in bilateral loans, financial instruments and a potential initial public offering (IPO) in early 2025 to secure the necessary capital for its extensive infrastructure projects.

“We are committed to finding the most efficient and cost-effective way to finance our capex program. We are confident that we can secure the necessary funding to deliver on our promise of providing reliable and sustainable water services to our customers,” Fernandez said at the sidelines of the listing ceremony of its maiden fixed-rate blue bond offering Friday.

The projects aim to upgrade and expand Maynilad’s water supply, sanitation and wastewater treatment services to meet the growing demand in its concession area.

Fernandez expressed confidence in the company’s ability to attract investors, citing the overwhelming success of the recent blue bond offering which was more than twice oversubscribed.

“We are encouraged by the strong investor interest in our company and our commitment to sustainability. We are confident that we can raise the necessary capital to support our growth and development plans, next year and beyond,” he said.

Maynilad’s 2025 capex plans involves a budget of P30 billion to P40 billion. While the majority will be borrowed and raised, the company said it is prepared to spend internal funds of up to P10 billion to augment the financing requirement.

Maynilad projects include the construction of new water treatment plants, expansion of its distribution network, and upgrading of existing infrastructure to improve operational efficiency and resilience.

The company is also exploring investments in new technologies and innovative solutions to enhance its water and wastewater management services.

The water company successfully listed its first-ever blue bond issuance on the Philippine Dealing & Exchange Corp., raising P15 billion to support sustainable water and wastewater management projects.

Maynilad will use the proceeds from the bond issuance to fund eligible blue projects such as pipelaying projects in Muntinlupa and Cavite, a reservoir project in Valenzuela and to upgrade the central reclamation facility, a strategic sewerage project for Maynilad.

Be the first to comment

Leave a Reply

Your email address will not be published.


*