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Jun 17, 2018 @ 18:40

PLDT eyes $400M borrowings to pay down debt

 

Telecommunications giant PLDT Inc. plans to secure $400 million in loans from local banks to refinance its maturing debt stock.

PLDT chief financial officer Anabelle Chua said they were looking to borrow in the fourth quarter.

The company’s gross debt stood at $3.5 billion as of the end of December last year.

Chua said the group’s P58 billion capital expenditures for 2018 are already fully covered.

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