Funding has now been agreed to enable the utility to repay the £18.6m. that it received from the States' capital reserve for the Belle Greve wastewater outfalls project in 2015.
Of that, £9m. will come from the bond, with the remainder funded from Guernsey Water's cash reserves, which at the end of 2016 stood at £11,874,258.
General manager Stephen Langlois said it intended to fund the repayments and interest on the borrowing through targeted efficiency savings.
Some of these efficiencies have already been identified by the utility, such as changes to its treatment process, while others are still being evaluated and searched for.
The aim of these efficiencies will be to keep customers' bills as low as possible, Mr Langlois said.
'We have a 10-year business plan that identifies our capital investment programme and funding requirements. We are committed to delivering our plan and improving the service we provide while continuing to keep our customers' bills as low as possible,' he said.
