In what marks as the final component of its comprehensive liability management exercise, PLDT has successfully closed a four-year multi-currency loan, upsizing it to $145 million from an original size of $130 million. The $145 million loan comprises commitments in yen and US dollars amounting to JPY10.91 billion and $53.3 million respectively.
Ironically one of the lead managers of the offering, ING Bank is also financial advisor to First Pacific and some wonder whether it feels its loyalties torn,...