Smart Communications, the mobile arm of Filipino telecoms powerhouse Philippine Long Distance Telephone Company (PLDT), has secured a loan worth PHP5.5 billion (USD129 million) from a group of 18 institutional lenders to refinance its existing debt and take advantage of the lower interest rates that are currently available. The cellco priced the five-year and ten-year fixed notes on 14 March ahead of their issuance on 19 March.
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OVETEL PLDT’s Smart unit secures PHP5.5bn loan for debt refinancing
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