Active Development AidData Chinese Aid

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

$2M USD

Funder	Bank of China (BOC)
Recipient Organization	PLDT Inc.
Country	Philippines
Start Date	Apr 11, 2019
End Date	Jul 10, 2033
Duration	5,204 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`95914`

Grant Description

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.

📋 Staff Comments

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.

📚 Sources & References

QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE
SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-Q QUARTERLY REPORT PURSUANT TO SECTION 17 for the quarterly period ended September 30, 2022
Management’s Discussion and Analysis of Financial Condition and Results of Operations
CONSOLIDATED FINANCIAL STATEMENTS AS AT SEPTEMBER 30, 2022 (UNAUDITED) AND DECEMBER 31, 2021 (AUDITED) AND FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022 AND 2021 (UNAUDITED) 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.