China Development Bank participates in $117.3 million term loan for Phase 8A Expansion and 8B Core and Intelligent Network Expansion, Phase 3 3G Expansion, and Phase 8B NCR and SLZ BSS Expansion Project (Linked to Record ID#63020)

📋 Staff Comments

1. CDB's individual contribution to this $117.3 million syndicated loan is unknown. For the time being, AidData assumes that each bank contributed equal amounts ($58.65 million).
2. 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.
3. The annual reports of PLDT, Inc. suggest that the interest rate of the $117.3 million term loan was 6-month LIBOR plus a margin. However, the exact margin that was added to the 6-month LIBOR base rate is unknown.
4. In 2009, China CITIC Bank provided a $50 million buyer's credit loan to DMPI for Phase 2 3G Expansion and Phase 8A NCR and South Luzon BSS Expansion Project (see Record ID#63020).

📚 Sources & References

• PHI / Philippine Long Distance Telephone Co. 6-K/A (Current Report of Foreign Issuer) - March 14, 2018
• F-1 PHILIPPINE LONG DISTANCE TELEPHONE COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS
• PHI / Philippine Long Distance Telephone Co. 6-K/A (Current Report of Foreign Issuer) - May 5, 2015, 2016 Notice and Agenda of Annual Meeting of Stockholders and Information Statement
• PLDT's 2015 SEC Form 17-A
• PLDT
• Financial Review Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.