DITO Telecommunity Corp., a joint venture between Davao-based businessman Dennis Uy and China Telecom, on Friday said it had renewed a $1.175-billion bridge facility provided by Bank of China and China Minsheng Banking Corp Ltd.
"This bridge facility is to be repaid and absorbed via a $3.9-billion project finance long-term facility currently being finalized by DITO Tel senior management, with target closing within the year," parent firm DITO CME Holdings Corp. said in a disclosure to the Philippine Stock Exchange.
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