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DITO Telecommunity takes out $3.9 billion loan

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="DITO Telecommunications and Udenna Corporation headquarters in Taguig City on February 20, 2020. Jonathan Cellona, ABS-CBN News/File]" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2021/business/02/23/20200220-udenna-dito-headquarters-jc-9634-s.jpg"/><figcaption>DITO Telecommunications and Udenna Corporation headquarters in Taguig City on February 20, 2020. <em>Jonathan Cellona, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA — DITO Telecommunity has taken out a $3.9 billion loan, its parent company said Thursday.</p><p>The 15-year long-term project finance facility will pay short-term loans amounting to S$1.3 billion, pay contractors, and fund the continuing network rollout of the country&#x27;s third telco, DITO CME Holdings Corp said. </p><p>DITO said the facility is one of the largest long-term loans arranged and syndicated by a group of multinational banks for a Philippine corporation.</p><p>&quot;The signing of this long-term project finance facility is a key milestone, one that helps ensure future funding activities, in both debt and equity,&quot; DITO said in a statement. </p><p>In April, Dito CME said it was looking at fund-raising activities, capital infusions, and various cost-cutting measures as its losses piled up to P11.4 billion in 2022. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/04/19/23/dito-cme-eyes-fund-raising-cost-cutting-in-2023">DITO CME eyes fund-raising, cost-cutting in 2023</a></li></ul><p>In May, Dito Telecommunity also renewed its $1.175 billion loan provided by the Bank of China and the China Minsheng Banking Corp. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/05/26/23/dito-telecommunity-renews-1175-billion-loan-with-chinese-banks">DITO Telecommunity renews $1.175 billion loan with Chinese banks</a></li></ul><p>The telco said it hopes to break even by 2025. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/05/23/dito-telecommunity-hopes-to-break-even-by-2025">DITO Telecommunity hopes to break even by 2025</a></li></ul><div><strong>RELATED STORY:</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/H-Nwe5wODe0?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

DITO Telecommunity has taken out a $3.9 billion loan. 