PLDT issues PHP6.2bn of notes to refinance debt

Filipino carrier Philippine Long Distance Telephone Company (PLDT) has issued PGP6.2 billion (USD151.4 million) of fixed-rate notes to refinance existing debt. In a statement the company, which includes mobile arm Smart Communications and the recently acquired Digitel, said it issued the notes to a group of primary institutional lenders. ‘The seven-year and ten-year notes were fixed at a yield of 5.50% and 5.9058% respectively’, it added. BPI Capital Corp and First Metro Investment Corp served as joint issue managers for the transaction.