<article>Philippine companies Clark Water Corp and Panay Energy Development Corp successfully closed deals over the weekend, raising capital, and signing a 25-year power deal, respectively.</article>

Philippine companies Clark Water Corp and Panay Energy Development Corp successfully closed deals over the weekend, raising capital, and signing a 25-year power deal, respectively.
<h3>Clark Water secures $33.6m debt</h3>
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<a href="http://www.clarkwater.com/" target="_blank">Clark Water Corp</a>, a wholly-owned subsidiary of the Ayala-led Manila Water Company Inc, has raised around $33.6 million (P1.5 billion) in a term loan agreement with Rizal Commercial Banking Corporation (RCBC).
Manila Water informed the stock exchange that the proceeds of the loan will be used to partially finance Clark Water’s capital expenditure program.
&#8220;Clark Water is the concessionaire of Clark Development Corporation under a 40-year contract for the construction, management, operation and maintenance of the water and waste water facilities in the concession area,&#8221; Manila Water said in its statement.
The listed parent firm invested almost P4 billion in Clark Water last year to beef up its water supply services within the Clark Freeport Zone in Pampanga, formerly US Clark Air base.
Manila water acquired 100 per cent of Clark Water in December 2011.
The company&#8217;s last traded price went up by 1.51 per cent or P0.400 to close at P26.90 on Monday.
<h3>Panay Energy, consortium forge 25-year power deal </h3>
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Philippine-based Panay Energy Development Corporation (PEDC) and members of the Panay-Guimaras Power Supply Consortium (PPSC) signed on Saturday, a 25-year Electric Power Purchase Agreement (EPPA).
A wholly owned subsidiary of <a style="color: #000080" href="www.gbpc.com.ph">Global Business Power Corporation</a>, PEDC signed the contract with PPSC just a few days after raising $257.8 million (P11 billion) from a 12-year syndicated loan facility to fund its 150 MW clean coal-fired power plant expansion project in Iloilo City.
Noted as &#8220;the lowest offered price of electricity in the Visayas,&#8221; the deal indicates aggregate power supply of 24 MW at the rate of Php 5.05 per kwH.
Purchase agreement will take effect no later than July 26, 2016 and will be sourced from Panay Energy’s 150 MW expansion project, which is expected to operate the single largest power generating facility in the Visayas, once it starts its commercial operations.
Related stories:
<a style="color: #ff0000" href="http://www.dealstreetasia.com/stories/ph-power-firm-panay-energy-raises-257-8m-in-debt-5021/">PH power firm Panay Energy raises $257.8m in debt</a>
<a style="color: #ff0000" href="http://www.dealstreetasia.com/stories/manila-water-zcwd-seal-joint-venture-2526/">Manila Water, ZCWD seal joint venture </a>

Philippine companies Clark Water Corp and Panay Energy Development Corp successfully closed deals over the weekend, raising capital, and signing a 25-year power deal, respectively.

Philippines Dealbook: Clark Water, Panay Energy

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