DITO Telecommunity signs PHP 221-billion long-term loan

The telecom DITO Telecommunity has secured a USD 3.9PHP 229INR 331EUR 4CNY 28-billion or PHP 2.21USD 0.04INR 3EUR 0.04CNY 0.27-billion loan and 15-year finance facility with a group of international banks.

According to DITO CME, they have stated that this agreement may be “one of the largest long-term debt arranged and syndicated by a group of multinational banks for a Philippine corporation.”

Portions of the fund would go to repaying another loan and support to DITO’s network expansion to improve the telecom’s speed in postpaid and 5G.

“This project finance facility represents strategic trust and confidence in the vision of the company to be a major enabler of digital services in the Philippines,” said Ernesto R. Alberto, President of DITO CME.

DITO’s average broadband speeds reaches 74.97 Mbps for $G while 5G receives 639.32 Mbps.