PHILIPPINES LONG Distance Telephone Company (PLDT), the bellwether corporate borrower in the Philippines, will again be a pioneer in the international debt markets with a revolving credit securitising its sale of receivables from international carriers. Chief financial officer Edgardo del Fonso said that after successfully completing a $98.4m securitisation at the end of last year, the group hopes to structure a $120m to $150m revolving facility by the end of the first quarter, pending the completion of due diligence.
January 30, 1998