PLDT denies reported US$150 million bridge financing from HSBC

Philippine Long Distance Telephone Co (0142) said they did not get a 150 mln usd bridge financing from HSBC (0005), rejecting earlier reported statements made by industry sources. On the reported plan to float 300-500 mln usd worth of 10-year eurobonds this month, which sources said will be underwritten by Credit Suisse First Boston and HSBC, PLDT said it has already opted to issue 250 mln usd in 10-year floating rate notes. PLDT said the net proceeds will be used to repay short- and medium-term debt.

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