March 21, 2023

Security Bank grants P3B loan to Manila Water unit

A unit of Manila Water Co. Inc. has sealed a P3-billion deal with Security Bank Corp. to bolster its capital spending and projects.

Security Bank has granted a loan facility to Manila Water’s wholly owned subsidiary Manila Water Philippine Ventures Inc. (MWPVI).The two institutions signed a 10-year, P3-billion term loan facility, and the proceeds of which shall be used exclusively to partially finance capital expenditures, fund existing projects of MWPVI’s subsidiaries or equity investments, and/or fund working capital or generate corporate purposes.

MWPV is a Manila Water unit solely used for its domestic units outside of the east zone.