Bank of China provides PHP 2 billion loan to PLDT, Inc. for unspecified purposes

On April 11, 2019, PLDT, Inc., and Bank of China (Manila Branch) signed a PHP 2 billion loan agreement for unspecified purposes. The loan was fully disbursed on September 6, 2019. The annual amortization rate was equivalent to 1% of the amount of loan payable on the first-year anniversary up to the sixth-year anniversary of the initial drawdown date and the balance payable upon the loan’s final maturity date (September 7, 2026). The loan’s (principal) amount outstanding was PHP 1.949 billion as of December 21, 2021 and PHP 1.931 billion as of September 30, 2022.

Additional details

1. PLDT, Inc., formerly known as the Philippine Long Distance Telephone Company (Filipino: Kompanya ng Teleponong Pangmalayuan ng Pilipinas), is a private telecommunications, internet, and digital service holdings company in the Philippines. It is one of the country's major telecommunications providers, along with Globe Telecom. Founded in 1928, it is the oldest and largest telecommunications company in the Philippines, in terms of assets and revenues.

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