DITO Telecommunity Corp.’s parent firm DITO CME Holdings Corp. has signed a 15-year long-term facility worth $3.9 billion to finance its continued network expansion nationwide.
In a disclosure to the Philippine Stock Exchange, DITO CME said the loan facility will be one of the largest long-term debt arranged and syndicated by a group of multinational banks for a Philippine corporation.
The proceeds will be used to extinguish short-term bridge loan facilities totaling $1.3 billion, with the balance to pay contractors and fund the continuing network rollout of DITO Telecommunity, it added.
This will further improve the quality of access and user experience as well as accelerate the take-up of its fixed wireless access, fifth generation and mobile postpaid product offarings.
