On 15 May 2024, Maynilad Water Services, Inc. received confirmation from the Securities and Exchange Commission (“SEC”) that its proposed Series A Blue Bonds due 2029 and Series B Blue Bonds due 2034 to be issued in accordance with its Sustainable Finance Framework comply with the requirements of the ASEAN Green Bond Standards, SEC MC No. 12, series of 2018 (Guidelines on the Issuance of Green Bonds under the ASEAN Green Bonds Standards in the Philippines), and SEC MC No. 15, series of 2023 (Guidelines on Eligible Blue Projects and Activities for the Issuance of Blue Bonds in the Philippines), subject to compliance with all applicable regulatory requirements and the issuance by the SEC of the requisite Permit to Offer Securities for Sale covering the bond issuance.
Maynilad is proposing to offer up to ₱12 Billion fixed-rate Blue Bonds with an oversubscription option of up to ₱3 Billion, to be issued in up to two (2) series at 100% face value with tenors of 5 years and/or 10 years indicatively from 27 May 2024 to 31 May 2024, subject to securing the required regulatory approvals. This is the first Blue Bond public offering in the Philippines. Maynilad’s Blue Bonds have been rated PRS Aaa with a Stable Outlook by the Philippine Rating Services Corporation (“PhilRatings”) on 15 March 2024.
BPI Capital Corporation (“BPI Capital”) as the Sole Issue Manager, and together with, BDO Capital & Investment Corporation (“BDO Capital”), First Metro Investment Corporation (“First Metro”), and East West Banking Corporation (“East West”) are the joint lead underwriters and joint bookrunners of the Offer.
Maynilad is the water and wastewater services provider for the West Zone. The West Zone is comprised of 17 cities and municipalities, i.e. Caloocan, Malabon, Navotas, Valenzuela, parts of Quezon City, parts of Manila, parts of Makati, Pasay, Parañaque, Las Piñas, and Muntinlupa—all in Metro Manila; and the cities of Cavite, Bacoor and Imus, and the municipalities of Kawit, Rosario and Noveleta—all in Cavite Province. The Maynilad business address is at the Engineering Building, MWSS Complex, Katipunan Ave., Balara, Quezon City, 1119, Philippines. The Company’s telephone number is (+632) 8 981 3333, and its corporate website is https://www.mayniladwater.com.ph.
