West Zone concessionaire Maynilad Water Services, Inc. (Maynilad) received a special citation at the 2025 Philippine Dealing System (PDS) Annual Awards, held recently at Makati Diamond Residences, for being the pioneer issuer of ASEAN Blue Bonds in the Philippines.
The PDS Group, the country’s financial market infrastructure provider, recognized Maynilad’s significant contribution to developing the local financial markets. The company’s Php15-billion Blue Bond issuance—the first SEC-registered blue bond in the country—was listed on the Philippine Dealing & Exchange Corp. in July 2024 to fund sustainable water and wastewater projects.
Maynilad’s Blue Bond introduced an innovative approach to financing environmental initiatives, enriching the Philippine investment landscape. This aligns with PDS Group’s mission to promote innovation and recognize market trailblazers.
The Blue Bond offering included a PHP 12-billion base issue with an oversubscription option of up to PHP 3 billion. It attracted strong investor demand, achieving a 2.47-times oversubscription and enabling competitive pricing for two series: five-year bonds at 6.7092% due 2029, and 10-year bonds at 7.0931% due 2034.
Earlier this year, Maynilad’s Blue Bond initiative was also recognized with the “Best Blue Bond in Southeast Asia” and “Most Innovative Deal of the Year 2024” at the Alpha Southeast Asia Awards.
Maynilad is the largest private water concessionaire in the Philippines in terms of customer base. It is a concessionaire of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area, which is composed of the cities of Manila (certain portions), Quezon City (certain portions), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon, all in Metro Manila; the cities of Cavite, Bacoor and Imus, and the municipalities of Kawit, Noveleta and Rosario, all in Cavite Province.
