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PLDT confirms plans to refinance its maturing obligations

Philippines' telco giant PLDT Inc. confirmed reports that the company plans to refinance its maturing obligations of 16 billion Philippine pesos in 2018, mainly via peso bank loans.

Also, the company said March 12 that it is mulling plans to sell its stake in Rocket Internet, subject to certain parameters and market conditions. The stake sale will supplement funding requirements in 2018.

As of March 9, US$1 was equivalent to 51.99 Philippine pesos.