Manila Water Signs 10-Year Term-Loan Facility with China Banking Corporation

Manila Water Company, Inc. (Manila Water) signed a P10 Billion 10-year term loan facility with the China Banking Corporation. The loan will be used to finance Manila Water’s capital expenditure projects.

Manila Water Company, Inc. provides water treatment, water distribution, sewerage and sanitation services to more than seven (7) million people in the East Zone, comprising a broad range of residential, semi-business, commercial and industrial customers. The East Zone encompasses twenty-four (24) cities and municipalities spanning a 1,400-square kilometer area that includes Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, portions of Manila and Parañaque, as well as the following towns of Rizal: Angono, Antipolo, Baras, Binangonan, Cainta, Cardona, Jala-Jala, Morong, Pililia, Montalban, San Mateo, Tanay, Taytay, and Teresa.

Trident Water is the controlling shareholder of Manila Water, with a 52.16% interest. The other substantial shareholders of Manila Water are Philwater Holdings Company, Inc., and Ayala Corporation, with a 19.01% and 12.26% stake, respectively.

Aside from the Manila Concession, Manila Water has a holding company for its domestic operating subsidiaries in Manila Water Philippine Ventures, Inc. (MWPV). Currently under MWPV are (1) bulk water supply under Metro Ilagan Water Company, Inc., Manila Water Consortium, Inc., with its subsidiary - Cebu Manila Water Development, Inc., Davao del Norte Water Infrastructure Company, Inc., with its subsidiary - Tagum Water Company, Inc.; (2) water distribution and waste water services namely, Boracay Island Water Company, Inc., Clark Water Corporation, Laguna AAAWater Corporation, Calbayog Water Company, Inc., North Luzon Water Company, Inc., Leyte Water Company, Inc. and Filipinas Water Consortium Holdings Corp., with its subsidiaries - Obando Water Company, Inc., MWPV South Luzon Water Corp., Bulakan Water Company, Inc., and Metro Ilagan Water Company, Inc. Another subsidiary of Manila Water is Calasiao Water Company, Inc., a water supply project for the Calasiao Water District; and (3) business-to-business water and wastewater services comprised of Aqua Centro MWPV Corp., Bulacan MWPV Development Corporation, Manila Water Technical Ventures, Inc., and EcoWater MWPV Corp. Under MWPV is a division, Estate Water, which operates and manages the water systems of townships developed by Ayala Land, Inc. Beginning 2021, Estate Water provided waste water services to Ayala Malls.

China Banking Corporation (CBC) is one of the leading private domestic universal banks in the Philippines. Its main businesses are deposit taking and business and consumer lending. It also provides trust & asset management, wealth management, cash management, investment banking & advisory, foreign currency trading, remittance, and internet & mobile banking services.

The bank also serves all the financial needs of its individual and institutional customers through its subsidiaries Chinabank Savings, Chinabank Capital Corp., CBC Assets One, Chinabank Securities, Resurgent Capital, Chinabank Insurance Brokers, and affiliate Manulife China Bank Life Assurance.

As of December 31, 2023, CBC has a nationwide network of 648 branches and 1,069 automated teller machines.