Manila Water Inks ₱10-B Loan Facility

Manila Water Co. Inc., a listed company, has secured a P10-billion, 10-year term loan facility with Metropolitan Bank and Trust Co. (Metrobank) to support its various projects.

Manila Water has been actively involved in multiple projects, and one of its units, Laguna Water, closed a P1.6-billion loan with the Bank of the Philippine Islands in August. I Photo: Manila Water

The company stated that the loan will be utilized to partially finance Manila Water's capital expenditure projects, without providing specific details.

Manila Water has been actively involved in multiple projects, and one of its units, Laguna Water, closed a P1.6-billion loan with the Bank of the Philippine Islands in August. This financing was intended to partly fund capital spending until 2025.

In its latest financial report, Manila Water revealed a 61% increase in net income, reaching P7.26 billion as of end-September, compared to P4.52 billion in the same period a year earlier.

The significant growth was attributed to higher revenues, which surged by 39% to P23.14 billion in the first three quarters of 2023, up from P16.65 billion in the comparable period of 2022.

The rise in revenues was primarily driven by a 37% increase in average tariff, 4% billed volume growth across all segments, and higher cross-border charges at the parent company.

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