Maynilad Water Services Inc. Seeks Approval for Philippines’ First Blue Bond Public Offering

Maynilad Water Services Inc. is seeking regulatory approval for what could be the Philippines’ first public offering of blue bonds. This comes as the country enforces new rules for projects aimed at tackling water pollution. The Philippine company, known for providing water and wastewater services to over a dozen cities and towns in metropolitan Manila, has applied for the registration of its proposed blue bonds offer. The worth is as much as 12 billion pesos ($213 million) with an oversubscription option of up to 3 billion pesos.

Key Takeaways:

• Maynilad Water Services Inc. is seeking regulatory approval for the first public offering of blue bonds in the Philippines.
• The company aims to enforce new rules for projects tackling water pollution.
• The proposed blue bonds offer is worth as much as 12 billion pesos with an oversubscription option of up to 3 billion pesos.

Analysis:

The introduction of blue bonds reflects a significant step toward addressing water pollution in the Philippines. This move is likely to set a precedent for future sustainable finance initiatives within the country's water and wastewater sector.

Do You Know?

• Blue bonds are a type of municipal bond specifically earmarked to raise funds for projects that will have positive impacts on the environment, particularly in the conservation and preservation of marine ecosystems.