Philippine incumbent telco PLDT aims to secure US$300m in loans over the next few quarters to partly fund its capex, according to a local report citing SVP treasurer Annabelle Chua.
The Philippine Daily Inquirer said the group was close to obtaining a…
Philippine incumbent telco PLDT aims to secure US$300m in loans over the next few quarters to partly fund its capex, according to a local report citing SVP treasurer Annabelle Chua.
The Philippine Daily Inquirer said the group was close to obtaining a US$200m loan from the Bank of Tokyo-Mitsubishi UFJ, and that it could also take out another US$100m in debt later this year.
PLDT signed a US$200m loan from Mizuho last month, added the report.
The company did not respond to requests for comment.
Chua reportedly said the bulk of its US$883m capex for 2015 is earmarked for the telco’s 3G and 4G infrastructure.
The group bought a 10% stake in German communications firm Rocket Internet in August for €330m (US$441.5m), and the two companies are creating a joint venture to set up and develop online start-ups based in the Philippines.
They announced intentions in January 2015 to launch “numerous” new companies in the coming quarters.
PLDT and Rocket are also developing a mobile and online payment services business with a focus on emerging markets.
