Philippine incumbent PLDT has confirmed that it signed a US$300m five-year loan from four banks, following media reports last month.
As TelecomFinance previously reported, PLDT was said to have secured the loan with ANZ, Bank of Tokyo-Mitsubishi UFJ,…
Philippine incumbent PLDT has confirmed that it signed a US$300m five-year loan from four banks, following media reports last month.
As TelecomFinance previously reported, PLDT was said to have secured the loan with ANZ, Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp, but PLDT had not commented on the deal.
“We confirm that PLDT recently signed a five-year US$300m club loan with [the four aforementioned banks],” said the company in a statement to the Philippine stock exchange. “The proceeds from the facility will be used to refinance PLDT’s existing debt and fund capex. As of this date, no drawdowns have been made under the facility.”
In the statement to the bourse, PLDT also confirmed that capex for 2013 would be lower than last year’s, following the completion of its two-year network transformation programme. “We anticipate that capex for 2012 will be within our capex guidance for the year of PHP38bn (US$940m); and expect to guide capex for 2013 at approximately PHP30bn (US$740m),” said the company. “We confirm further that PLDT expects to achieve its core profit guidance of PHP37bn (US$910m).”
The telco announces its full-year results on 5 March.
