MAYNILAD Water Services, Inc., a unit of Metro Pacific Investments Corp. (MPIC), has signed an P18.5-billion notes facility with various banks to refinance existing debt and for general corporate requirements.
MPIC informed the Philippine Stock Exchange (PSE) on Monday that Maynilad has signed a notes facility with various banks and that the term loan carries a tenor of seven, 10, and 15 years.
BDO Capital & Investment Corp., BPI Capital Corp. and China Bank Capital Corp. served as mandated lead arrangers and bookrunners for the transaction.
Maynilad is the largest private water concessionaire in the Philippines in terms of customer base. Consunji-led DMCI Holdings Inc. holds a 25 percent interest in the water firm.
It serves as the agent and contractor of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area and it also serves some cities and towns in Cavite Province.