| Summary of Long-term Debt |
As at December 31, 2025 and 2024, long-term debt consists of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
Description |
|
Interest Rates |
|
U.S.
Dollar |
|
|
Php |
|
|
U.S.
Dollar |
|
|
Php |
|
|
|
|
|
(in millions) |
|
U.S. Dollar Debts: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Rate Notes |
|
2.5000% to 3.4500% in 2025 and 2024 |
|
|
591 |
|
|
|
34,779 |
|
|
|
591 |
|
|
|
34,177 |
|
Term Loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Others |
|
SOFR + 1.31161 % in 2025 and SOFR + 1.31161 % to 1.47826% in 2024 |
|
|
70 |
|
|
|
4,100 |
|
|
|
84 |
|
|
|
4,838 |
|
|
|
|
|
|
661 |
|
|
|
38,879 |
|
|
|
675 |
|
|
|
39,015 |
|
Philippine Peso Debts: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term Loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unsecured Term Loans |
|
4.0000% to 5.3500%; PHP BVAL + 0.4000% to 1.1250% (floor rate 4.5000% to 4.6250%) in 2025 and 4.000% to 5.3500%; PHP BVAL
+ 0.5000% to 1.0000% (floor rate 4.5000% to 4.6250%) in 2024 |
|
|
|
|
|
255,869 |
|
|
|
|
|
|
242,571 |
|
|
|
|
|
|
|
|
|
255,869 |
|
|
|
|
|
|
242,571 |
|
Total long-term debt (Notes 27 and 28) |
|
|
|
|
|
|
|
294,748 |
|
|
|
|
|
|
281,586 |
|
Less portion maturing within one year (Note 27) |
|
|
|
|
|
|
|
15,880 |
|
|
|
|
|
|
23,340 |
|
Noncurrent portion of long-term debt (Note 27) |
|
|
|
|
|
|
|
278,868 |
|
|
|
|
|
|
258,246 |
|
|
| Disclosure of Loans Explanatory |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding Amounts |
|
|
|
|
|
|
Repurchase Amount |
|
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
|
Loan Amount |
Issuance Date |
Trustee |
Terms |
Php |
|
Dates |
|
Paid in
full on |
|
U.S.
Dollar |
|
|
Php |
|
|
U.S.
Dollar |
|
|
Php |
|
|
|
|
|
|
(in millions) |
|
|
|
|
|
(in millions) |
|
|
Fixed Rate Notes(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US$300M |
June 23, 2020 |
The Bank of New
York Mellon, London Branch |
Non-amortizing, payable in full upon maturity
on January 23, 2031 |
|
— |
|
|
— |
|
|
— |
|
|
297 |
|
(2) |
|
17,468 |
|
(2) |
|
297 |
|
(2) |
|
17,155 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US$300M |
June 23, 2020 |
The Bank of New
York Mellon, London Branch |
Non-amortizing, payable in full upon maturity
on June 23, 2050 |
|
— |
|
|
— |
|
|
— |
|
|
294 |
|
(2) |
|
17,311 |
|
(2) |
|
294 |
|
(2) |
|
17,022 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
591 |
|
|
|
34,779 |
|
|
|
591 |
|
|
|
34,177 |
|
|
(1) The purpose of this loan is to refinance the existing loan obligations, prepay outstanding loans and partially finance capital expenditures. (2) Amounts are net of unamortized debt discount/premium and/or debt issuance cost.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Drawn
Amount |
|
Cancelled Undrawn
Amount |
|
|
|
Outstanding Amounts |
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
|
Loan Amount |
Date of Loan
Agreement |
Lender(s) |
Terms |
Dates Drawn |
U.S. Dollar |
|
Paid in
full on |
|
U.S.
Dollar |
|
|
Php |
|
|
U.S.
Dollar |
|
|
Php |
|
|
|
|
|
|
|
(in millions) |
|
|
|
(in millions) |
|
|
U.S. Dollar Debts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Term Loans(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US$25M |
2017 |
NTT TC Leasing |
Non-amortizing, payable upon maturity on March 27, 2024 |
2017 |
|
25 |
|
|
— |
|
March 27, 2024 |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US$140M |
March 4, 2020 |
PNB |
Quarterly amortization rates equivalent to: (a) 2.5% of the total amount drawn payable on the first interest payment date up to the 28th interest payment date; (b) 5% of the total amount drawn payable on the 29th interest payment date up to the 32nd interest payment date; and (3) 2.5% of the total amount drawn payable on the 37th interest payment date up to maturity on December 13, 2030 |
December 14,
2020 |
|
140 |
|
|
— |
|
|
— |
|
|
70 |
|
(2) |
|
4,100 |
|
(2) |
|
84 |
|
(2) |
|
4,838 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
70 |
|
|
|
4,100 |
|
|
|
84 |
|
|
|
4,838 |
|
|
(1) The purpose of this loan is to finance capital expenditures and/or to refinance existing loan obligations which were utilized for network expansion and improvement programs. (2) Amounts are net of unamortized debt discount/premium and/or debt issuance cost.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding Amounts |
|
|
|
|
|
|
Date of |
Payments |
|
December 31, 2025 |
|
|
December 31, 2024 |
|
|
|
|
|
|
Issuance/ |
Amount |
|
|
|
|
|
|
|
|
Loan Amount |
Agreement |
Paying Agent |
Terms |
Drawdown |
Php |
Date |
|
Php |
|
|
Php |
|
|
|
|
|
|
|
(in millions) |
|
|
(in millions) |
|
|
Fixed Rate Retail Bonds(1) |
|
|
|
|
|
|
|
|
|
|
|
PLDT |
|
|
|
|
|
|
|
|
|
|
|
|
|
Php15,000M |
January 22, 2014 |
Philippine Depositary
Trust Corp. |
Php12.4B – non-amortizing, payable in full upon maturity on
February 6, 2021; Php2.6B – non-amortizing payable in full on February 6, 2024 |
February 6, 2014 |
12,400
2,600 |
February 8, 2021
February 6, 2024 |
|
|
— |
|
|
|
— |
|
|
(1) The purpose of this loan is to finance capital expenditures and/or to refinance existing loan obligations which were utilized for network expansion and improvement programs. (2) Amounts are net of unamortized debt discount/premium and/or debt issuance cost.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding Amounts |
|
|
|
|
|
|
|
|
Drawn |
|
December 31, 2025 |
|
|
December 31, 2024 |
|
|
|
|
Date of Loan |
|
|
|
Amount |
|
|
|
|
|
|
|
Loan Amount |
|
Agreement |
Lender(s) |
Terms |
Dates Drawn |
Php |
|
Php |
|
|
Php |
|
|
|
|
|
|
|
|
(in millions) |
|
(in millions) |
|
|
Term Loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
Unsecured Term Loans(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php9,500M |
|
Various dates in
2014 and 2019 |
Union Bank of the Philippines |
With annual amortization up to 10 years |
Various dates in
2014 and 2019 |
|
9,500 |
|
|
7,689 |
|
(2) |
|
7,811 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php70,500M |
|
Various dates in
2015 to 2024 |
Bank of the Philippine Islands |
With annual amortization up to 6, 10 and 11 years |
Various dates in
2015 to 2025 |
|
70,500 |
|
|
56,443 |
|
(2) |
|
54,738 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php55,500M |
|
Various dates in
2015 to 2025 |
Metropolitan Bank and Trust Company(3) |
With annual amortization up to 10 and 11 years |
Various date in
2015 to 2025 |
|
54,000 |
|
|
42,635 |
|
(2) |
|
38,618 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php18,500M |
|
Various dates in
2019 and 2023 |
China Banking Corporation |
With annual amortization up to 10 years |
Various dates in
2019 and 2023 |
|
18,500 |
|
|
14,919 |
|
(2) |
|
15,770 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php14,000M |
|
Various dates in
2016 and 2017 |
Security Bank |
With semi-annual amortization up to 10 years |
Various dates in
2017 |
|
14,000 |
|
|
10,372 |
|
(2) |
|
10,566 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php39,970M |
|
Various dates in
2016 to 2025 |
Banco de Oro |
With annual amortization up to 7 and 10 years |
Various dates in 2016, 2020, 2021, 2024 and 2025 |
|
39,820 |
|
|
38,560 |
|
(2) |
|
29,564 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php8,500M |
|
Various dates in
2016, 2017 and 2019 |
Philippine National Bank |
With annual amortization up to 7, 8 and 10 years |
Various dates in
2017, 2018 and 2019 |
|
8,500 |
|
|
6,491 |
|
(2) |
|
7,920 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php41,500M |
|
Various dates in
2016 to 2023 |
Landbank of the Philippines |
With annual amortization up to 10 years |
Various dates in
2017 to 2023 |
|
41,500 |
|
|
39,131 |
|
(2) |
|
39,475 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php14,000M |
|
Various dates in
2019 to 2021 |
Development Bank of the Philippines |
With annual amortization up to 8, 9 and 10 years |
Various dates in
2019 to 2022 |
|
14,000 |
|
|
13,397 |
|
(2) |
|
13,513 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php2,000M |
|
April 11, 2019 |
Bank of China (Hong Kong) Limited, Manila Branch |
With annual amortization up to 7 years |
September 6, 2019 |
|
2,000 |
|
|
1,878 |
|
(2) |
|
1,896 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php15,000M |
|
Various dates in
2020, 2021 and 2023 |
Rizal Commercial Banking Corporation |
With annual amortization up to 8, 10 and 11 years |
Various dates in
2020, 2021 and 2023 |
|
15,000 |
|
|
14,324 |
|
(2) |
|
14,443 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php2,500M |
|
March 30, 2020 |
MUFG Bank, Ltd. |
With semi-annual amortization up to 6 years |
April 2, 2020 |
|
2,500 |
|
|
949 |
|
(2) |
|
972 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php3,800M |
|
Various dates in 2023 and 2024 |
Bank of Commerce |
With annual amortization up to 9 and 10 years |
Various dates in
2023 and 2024 |
|
3,800 |
|
|
3,733 |
|
(2) |
|
3,769 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php3,000M |
|
Various dates in 2024 |
Hongkong and Shanghai Banking Corporation(3) |
With annual amortization up to 5 years |
Various dates in 2024 |
|
3,000 |
|
|
2,838 |
|
(2) |
|
2,986 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Php2,530M |
|
Various dates in
2024 and 2025 |
Philippine Veterans Bank |
With annual amortization up to 7 years |
Various dates in
2024 and 2025 |
|
2,530 |
|
|
2,510 |
|
(2) |
|
530 |
|
(2) |
|
|
|
|
|
|
|
|
|
255,869 |
|
|
|
242,571 |
|
|
(1) The purpose of this loan is to finance capital expenditure and/or to refinance existing loan obligations which were utilized for network expansion and improvement programs. (2) Amounts are net of unamortized debt discount/premium and/or debt issuance cost. (3) Includes Green Loan and Social Loan.
|