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THE Securities and Exchange Commission on Thursday approved the P15- billion blue bond offering of Maynilad Water Services Inc., the concessionaire of the west zone of Metro Manila. Maynilad is the first company to issue blue bonds under the guidelines released by the SEC in 2023.
Based on the registration statement filed with the SEC, Maynilad will issue up to P12 billion of fixed-rate, peso-denominated blue bonds, with an oversubscription option for another P3 billion, subject to the company’s compliance with certain remaining requirements. Blue bonds refer to a subset of green bonds and sukuk whose proceeds will exclusively be used to finance or refinance new and/or existing eligible blue projects and activities.
The bonds will be offered at face value from May 27 to 31, in time for listing at the Philippine Dealing & Exchange Corp. on June 7, according to the latest timetable submitted to the SEC.BPI Capital will also act as joint lead underwriter and joint bookrunner, together with BDO Capital & Investment Corp., First Metro Investment Corp. and East West Banking Corp.It earmarked P11.
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