DITO Telecommunity, a telecom company, has borrowed a large amount of money from international banks, specifically USD 3.9 billion or PHP 2.2 trillion. The loan has a 15-year repayment period.
DITO CME said this agreement could be one of the biggest loans arranged by a group of international banks for a Philippine company.
Some of the money will be used to pay off a loan and help DITO expand their network to make their telecom services faster for postpaid and 5G.
Ernesto R. Alberto, President of DITO CME, said that the project finance facility shows that the company is trusted and believed in to help provide digital services in the Philippines.
DITO’s regular internet speed is 74.97 Mbps, while their 5G speed is 639.32 Mbps.