PLDT confirms: Maturing obligations to be refinanced with bank loans

MANILA, Philippines — Telco giant PLDT Inc. on Tuesday confirmed reports it may tap banks to refinance its maturing obligations for 2019.

Reacting to a report from The STAR, PLDT told the stock exchange that its maturing obligations for next year amount to $400 million, which the company expects to be generally refinanced with bank loans.

“Given that these are maturities for next year, we have flexibility to determine the best timing for refinancing the said obligations,” PLDT said.

PLDT expects to spend P58 billion for capital expenditures this year, the highest ever set by the firm.

The telco company also reportedly expects to maintain this year’s capex level for next year, as well as in 2020. — Ian Nicolas Cigaral

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PLDT to borrow to refinance maturing obligations