Maynilad Water Services Inc. secured regulatory approval of issue up to P15 billion in blue bonds, tentatively scheduled from May 27- 31 this year, the Securities and Exchange Commission said on Thursday.
Blue bonds are financial instruments designed to raise funds exclusively for projects that preserve and enhance marine and aquatic environments, such as sustainable fisheries, aquaculture, wastewater management, and marine renewable energy initiatives that protect ecosystems.
Maynilad, owned by Metro Pacific Investments, DMCI Holdings and Japan's Marubeni, is expected to raise approximately P14.82 billion if the oversubscription is fully utilized, with the proceeds earmarked for these eligible blue activities/
The offer involves up to P12 billion in fixed-rate, peso-denominated blue bonds and an additional oversubscription option of up to P3 billion, contingent on Maynilad meeting certain regulatory conditions.
