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Philippines’ Manila Water plans dollar senior sustainability bonds
By Sarah Lizee
Olympia, Wash., July 22 – Manila Water Co. is planning to issue dollar-denominated senior sustainability bonds, according to a notice.
BPI Capital Corp., Citigroup Global Markets Singapore Pte. Ltd., Credit Suisse (Singapore) Ltd., Hongkong and Shanghai Banking Corp. Ltd., Singapore Branch, Mizuho Securities (Singapore) Pte. Ltd. and UBS AG Singapore Branch have been mandated as joint lead managers and joint bookrunners for the transaction.
Net proceeds from the issue are intended to refinance debt and finance programmed capital expenditures for 2020 through 2021, under the company’s recently established sustainable financing framework.
Projects to be refinanced and financed relate to the sustainable water and wastewater management, terrestrial and aquatic biodiversity conservation and affordable basic infrastructure categories.
Manila Water is a Quezon City, Philippines, water and wastewater operator.
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