EAST Zone concessionaire Manila Water bagged the Best Sustainability Bond in the corporate category at the recently held “The Asset Triple A Sustainable Capital Markets Country & Regional Awards 2020” virtual ceremony.
Manila Water Company’s $US 500 million sustainability bond is the company’s debut bond issuance in the international capital markets. The issuance is the single largest sustainability bond issued by a listed private water utility in Asia and the first ASEAN sustainability bond by a corporate issuer out of the Philippines.
The Asset’s annual Triple A recognition embodies the industry’s most prestigious awards for banking, finance, treasury and the capital markets; and has the widest reach among Asian issuers and global institutional investors.
For his part, MWC President and CEO Mr. Rene Almendras explained,“ as a member of the Ayala Group of Companies, we are very grateful for the strong market response which reflects the investors’ confidence in Manila Water’s fundamental strength and stability as a leading Asian player in the water and wastewater industry. The issuance of this Sustainability Bond is fully aligned with our commitment to create shared value towards achieving the targets of the UN Sustainable Development Goals, especially SDG 6 which focuses on clean water and sanitation.”
Manila Water is the water and wastewater provider of the eastern portion of Metro Manila that serves the residents of Pasig, Marikina, Taguig, Makati, Mandaluyong, San Juan, Pateros, portions of Quezon City and Manila and Rizal Province.