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Maynilad Water Services Inc., the water concessionaire for the west zone of Metro Manila, obtained P10.8 billion worth of yen and peso denominated loans from Japan International Cooperation Agency (Jica).
Maynilad president Ramoncito Fernandez said in an interview at the sidelines of an annual stockholders’s meeting of parent Metro Pacific Investments Corp. the loan agreement would be signed during President Rodrigo Duterte’s upcoming visit to Japan.
The loans is payable in 17 years with a five-year grace period.
Maynilad plans to use proceeds from the fund-raising activity to finance expansion. It will be the first time that Maynilad will be borrowing yen-denominated loans.
Marubeni Corp. is one of Maynilad’s biggest shareholders.
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