MANILA, Philippines — A unit of Manila Water Co. Inc. has closed a P3-billion loan with Security Bank Corp. to fund its capital spending and projects. In a disclosure to the Philippine Stock Exchange yesterday, Manila Water said its wholly owned subsidiary Manila Water Philippine Ventures Inc. (MWPVI) signed a 10-year, P3-billion term loan facility with Security Bank. "The proceeds of the loan will be used exclusively to partially finance capital expenditures, fund existing projects of MWPVI's subsidiaries or equity investments, and/or fund working capital or generate corporate purposes," it said.