PLDT eyes P28B borrowings to fund capex
Telco giant PLDT Inc. plans to borrow as much P28 billion from local banks to refinance maturing debt stock and partly support its capital requirements this year.
PLDT chief financial officer Anabelle Chua, said the company’s maturing debt for the year stands at $391 million.
It has budgeted P78.4 billion for its ongoing expansion, P20 billion higher than the P58.5 billion spent in 2018.
This aggressive roll-out is intended to further push the already significant network advantage of PLDT and Smart, and, to support its active campaign for more revenues.
The coverage of PLDT’s fiber-powered network passed 6.3 million homes by the end of December last year, up 57 percent.