By Devika Patel
Knoxville, Tenn., Dec. 9 - Philippine Long Distance Telephone Co. said it issued a combined PHP 7 billion of fixed-rate notes.
The notes fetched a credit spread of 100 basis points over the relevant benchmark across all tenors, with volume of PHP 5.05 billion for the five-year maturity, PHP 850 million for the seven-year maturity and PHP 1.1 billion for the 10-year maturity.
The deal was arranged jointly by First Metro Investment Corp. and BDO Capital Investment Corp, with China Banking Corp.
Proceeds will be used to finance capital expenditures and to refinance existing debt.
Philippine Long Distance Telephone is a diversified telecommunications company based in Makati City, the Philippines.
| Issuer: | Philippine Long Distance Telephone Co.
|
| Issue: | Notes
|
| Total amount: | PHP 7 billion
|
| Underwriters: | First Metro Investment Corp. and BDO Capital Investment Corp, with China Banking Corp.
|
| Announcement date: | Dec. 9
|
|
|
| Five-year notes
|
| Amount: | PHP 5.05 billion
|
| Maturity: | Five years
|
| Spread: | 100 bps
|
|
|
| Seven-year notes
|
| Amount: | PHP 850 million
|
| Maturity: | Seven years
|
| Spread: | 100 bps
|
|
|
| 10-year notes
|
| Amount: | PHP 1.1 billion
|
| Maturity: | 10 years
|
| Spread: | 100 bps
|
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