Clark Water borrows P1.15B to fund capex

CLARK Water Corp. (CWC), a wholly owned subsidiary of Ayala-led Manila Water Co. Inc., has secured a bank loan amounting to P1.15 billion from Rizal Commercial Banking Corp. (RCBC) for its capital spending program.

In a disclosure to the Philippine Stock Exchange (PSE) on Monday, Manila Water said Clark Water has signed a term loan with RCBC and proceeds of the loan “will be used to partially finance Clark Water’s capital expenditure program.”