Manila, Philippines – Financing of the Wawa Bulk Water Supply Project won “Water Deal of the Year” at the 2021 Infrastructure Awards of financial publication The Asset.
Joint venture partners Prime Infrastructure Holdings Corp. (Prime Infra) and San Lorenzo Ruiz Builders and Developers Group, Inc. of WawaJVCo were recognized as sponsors of the loan facility.
The award also cited BDO Capital and Investment Corporation as the lead arranger and sole bookrunner for the project, and BDO Unibank as lender. Picazo Buyco Tan Fider & Santos, and Sycip Salazar Hernandez & Gatmaitan served as legal advisers.
The Asset is a leading financial publication in Asia. Its Triple A Infrastructure Awards highlights the “importance of infrastructure to the region’s future” and “honors the institutions and the deals in Asia that made a difference.”
The P20-billion project financing will ensure the completion of the Wawa Bulk Water Supply Project, which will deliver water to over 500,000 households.
The ongoing flagship project involves the construction of two water supply infrastructures that will provide Manila Water Company (MWC) 80 million liters (MLD) in the 1st phase to be completed by next year. The project will deliver the full 518 MLD in its 2nd phase by December 2025.
The project will also address problems of flooding in the eastern part of Metro Manila and lower areas in the province of Rizal.