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Sunday, October 12, 2014

Manila Water, Security Bank sign P650-M loan for Boracay unit

Manila Water has tapped a P650-million loan from Security Bank Corporation to improve its services in Boracay Island.

Manila Water signed a Third Omnibus Loan and Security Agreement with Security bank to "finance the capital expenditures of Boracay Water in fulfillment of its service obligations in the island of Boracay," the parent company said in a disclosure to the Philippine Stock Exchange.

Boracay Water is a unit of Manila Water.

Established by Ayala Corporation, Manila Water primarily serves the East Zone of Metro Manila.
Its service area straddle parts of Quezon City, Makati, Taguig, Pateros, Marikina, Pasig, San Juan, Mandaluyong, the southeast of Manila, and Rizal province.

Raffy Cabristante/VS, GMA News

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