Maynilad’s Blue Bond Offering wins prestigious international awards
Maynilad’s Head of Treasury, SCOPE, and Investor Relations Marie Angelique Estrella (5th from left) receives the Best Blue Bond in Southeast Asia and Most Innovative Deal of the Year 2024 awards from Siddiq Bazarwala, CEO and Publisher of Alpha Southeast Asia (4th from left). Also present were (from left): East West Banking Corporation’s Head of Investment Banking Gerald Abrogar and SEVP & Head, Financial Markets and Wealth Management Cluster Rafael Algarra, Jr.; BPI Capital Corporation’s Associate Director and Head of Debt Products Jennifer Ho; Maynilad’s Head of Loans Management Leslie Tubianosa; and BDO Capital and Investment Corporation’s President Eduardo Francisco. The award recognizes Maynilad’s PHP 15-billion Blue Bond issuance, the first-ever SEC-registered blue bond in the Philippines, marking a significant milestone in the country’s sustainable finance efforts.
West Zone concessionaire Maynilad Water Services, Inc. (Maynilad) has earned top international recognition for its maiden fixed-rate bond issuance, winning “Best Blue Bond in Southeast Asia” and “Most Innovative Deal of the Year 2024” at the recently concluded Alpha Southeast Asia Awards in Kuala Lumpur, Malaysia.
Maynilad’s PHP 15-billion Blue Bond issuance—the first SEC-registered blue bond in the Philippines—was listed on the Philippine Dealing & Exchange Corp. in July 2024. The bond was launched to support the company’s capital expenditure on sustainable water and wastewater management projects.
The offering earned top recognition in its category, besting similar blue bond issuances in Thailand and Vietnam. Despite a competitive fundraising environment, Maynilad’s Blue Bond secured 2.47 times oversubscription, reflecting strong investor confidence. This success enabled the company to achieve favorable pricing, solidifying its position as a leader in sustainable finance.
“The recognition of our Blue Bond offering—Maynilad’s first public issuance to finance sustainable projects—affirms that we are on the right track in advancing water security, climate resilience, and the UN Sustainable Development Goals,” said Maynilad Chief Finance Officer Ricardo F. De Los Reyes. “Proceeds from this issuance will fund critical water and wastewater initiatives, including pipe-laying projects, pump stations, modular treatment plants, and sewerage system upgrades.”
The Alpha Southeast Asia Awards, organized by institutional investment magazine Alpha Southeast Asia, is a prestigious awards program that honors excellence in the financial sector across Southeast Asia.
Maynilad’s Blue Bond issuance was arranged by BPI Capital Corporation as the Sole Issue Manager, with BDO Capital & Investment Corporation, BPI Capital Corporation, East West Banking Corporation, and First Metro Investment Corporation serving as Joint Lead Underwriters and Bookrunners.
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