PLDT bond issue raises USD211m

Dow Jones Newswires reports that Filipino carrier Philippine Long Distance Telephone Company (PLDT) has raised PHP8.8 billion (USD211 million) through the issuing of seven-year and ten-year fixed rate bonds to refinance debt. In a stock exchange filing, PLDT added that the monies raised will also be used to reduce financing costs and extend debt maturities. The bond issue was managed by BPI Capital Corp and First Metro Investment Corp.