1. Maynilad fundraising campaign
2. Maynilad water conservation initiatives
3. Maynilad revenue generation strategies
Maynilad Water Services Inc. is set to raise an additional P6 billion to complete its capital investment fund of P31 billion for this year. The company has already engaged in various fundraising activities, including the sale of blue bonds, which garnered significant interest from investors. Maynilad President and CEO Ramoncito Fernandez expressed confidence in surpassing the initial offering of P15 billion. The anticipated proceeds from these fundraising activities will support Maynilad’s sustainable water and wastewater management projects. Additionally, the company secured a P10-billion loan to further enhance its services. Maynilad’s extensive capex program aims to improve water and wastewater projects for its customers.
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Maynilad Water Services Inc., the company responsible for the West Zone concession with the Metropolitan Waterworks and Sewerage System (MWSS), is on track to raise an additional P6 billion to complete its capital investment fund of P31 billion for the year. This move is part of the company’s efforts to bolster its financial resources and support its ongoing projects aimed at enhancing water and wastewater management services for its customers.
One of the key fundraising activities that Maynilad has engaged in is the sale of blue bonds, a unique investment offering that has generated significant interest from investors. The company initially offered P12 billion through this initiative, with plans to increase the amount to P15 billion in case of oversubscription. According to Maynilad President and CEO Ramoncito Fernandez, the blue bonds have been oversubscribed, indicating strong investor confidence in the company’s projects and future prospects.
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In addition to the blue bonds, Maynilad has secured a P10-billion loan from the Ty family-led Metropolitan Bank & Trust Co. This 10-year loan, which matures in 2034, will provide the company with additional financial support to pursue its capital expenditure program and further improve its services for over 10.3 million customers. The proceeds from these fundraising activities will be allocated towards sustainable water and wastewater management projects that are crucial for the company’s long-term growth and sustainability.
Maynilad’s capital expenditure program for the year includes investments of more than P31 billion in various water and wastewater projects, making it the largest capital investment by the company since its reprivatization in 1997. A significant portion of this amount, P11.4 billion, has been earmarked for wastewater management projects, such as the construction of new sewage treatment plants and the expansion of sewer lines. Another P8.72 billion will be allocated to projects focused on tapping alternative raw water sources, while P6.27 billion will go towards upgrading key facilities like pumping stations, water reservoirs, and primary lines.
Furthermore, Maynilad plans to allocate more than P4 billion towards reducing non-revenue water, which refers to water that is treated but lost in the system due to leaks or pilferage. By addressing this issue, the company aims to improve efficiency and sustainability in its operations, ultimately benefiting its customers and the environment.
Overall, Maynilad’s proactive approach to raising additional funds and investing in critical infrastructure projects underscores its commitment to providing reliable and sustainable water services to the communities it serves. Through strategic financial planning and prudent resource allocation, the company is well-positioned to achieve its goals and contribute to the development of a more resilient and water-secure future for all.