Philippine incumbent PLDT has secured a US$300m five-year term loan, according to sources cited by Reuters.
ANZ, Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp each provided US$75m.
Pricing on the deal is less than…
Philippine incumbent PLDT has secured a US$300m five-year term loan, according to sources cited by Reuters.
ANZ, Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp each provided US$75m.
Pricing on the deal is less than 200bp, according to a source cited in the report. Signing took place on 16 January and proceeds will refinance existing debt.
As TelecomFinance previously reported, PLDT has issued a number of bond offerings over the past few months for the same purpose.
The telco issued PHP6.2bn (US$150m) notes on 22 November, with BPI Capital Corporation and First Metro Investment Corporation acting as joint issue managers on the transaction.
“Proceeds from the said facility will be used to refinance PLDT’s existing debts in line with the company’s liability management initiatives to reduce financing costs and rationalise its debt maturities,” said a company statement at the time.
PLDT had not commented on today’s news by the press deadline.
