PLDT wants to reduce debts ahead of schedule

10 Oct 2005

Philippine Long Distance Telephone Company (PLDT) has revealed that it plans to pay-off USD72 million worth of debts ahead of its 2007 due date. The operator says the move will enable it to save on interest charges and minimise foreign exchange risks. By the end of 2005, it plans to have settled over USD672 million in debts, exceeding its USD600 million target.