ABS-CBN Signs P10 Billion Syndicated Term Loan Agreement

Taking advantage of prevailing low interest rates and its stronger financial performance in recent years, ABS-CBN Corporation, the country’s largest multimedia conglomerate, today signed a P10 billion syndicated term loan agreement to refinance existing debt as well as fund planned capital expenditures and general working capital requirements.

Bank of the Philippine Islands, Banco de Oro , Security Bank, Insular Life, Allied Bank and AlliedBank Savings, and PNB and PNB Life funded the loan.

The loan agreement was signed by President & COO Ma. Rosario Santos-Concio and Chief Finance Officer Rolando P. Valdueza for ABS-CBN. In his closing remarks, Mr. Valdueza thanked the participating lenders for their continuing confidence in ABS-CBN, and for their support of the Company’s business and financial prospects. “The oversubscribed order book for our debt refinancing and new debt is a clear manifestation of how our partnership has grown over the years,” he said.

Of the P10 billion total loan amount, P6.6 billion will go toward refinancing existing debt, while the remainder of P3.4 billion in new debt will help fuel the Company’s continuing growth. The new debt is intended for planned capital expenditures in digital terrestrial TV infrastructure and the continuing expansion requirements for cable TV and other services.

The loan was structured as an unsecured and unsubordinated bullet and partly amortizing loan maturing in 2017, priced at a 65 basis points spread over the 7-year PDST-F benchmark for the fixed rate portion of the loan, and over the 3-month PDST-F for the floating rate portion. Consequently, ABS-CBN’s effective interest cost on all its interest-bearing debt goes down by about two percentage points, from which the Company expects to generate savings in annual interest expenses of about P92 million. Apart from the savings that will be generated, the new loan agreement also incorporates more relaxed covenants.

BPI Capital Corporation acted as Lead Arranger and Sole Book-runner for the transaction. BDO Capital and Security Bank acted as loan arrangers, while PNB Capital and Insular Life were co-arrangers. BPI’s Asset Management and Trust Group will serve as the loan’s facility agent.

15 Comments on ABS-CBN Signs P10 Billion Syndicated Term Loan Agreement

  1. Mr. Dékány Endre // March 16, 2020 at 6:38 am //

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  2. Mr. George Anderson // March 16, 2020 at 6:38 am //

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  3. Kailangan mo ba ng isang agarang utang? Makipag-ugnay sa: // September 20, 2019 at 10:15 am //

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  4. PakibasaNgMatauhan! // November 4, 2010 at 9:44 am //

    In business, refinancing & leverage are 2 of the best strategies to expand the operations by not tapping the reserved assets of the company. ABS-CBN obviously is still the #1, undisputed media conglomerate not only in the Philippines but also in Southeast Asia, & 1 in Asia & in the World, in terms of total assets, yearly revenue & net profit, ratings, world-class productions etc. These are the reasons why ABS-CBN is undefeated & will always be:

    ABS-CBN marked its winning glory by bringing the best, the highest quality and the top among all networks to use the most advanced technologies used by the world, bring the Philippines near to other first-world countries when it comes to television and multimedia network broadcast. And here are some of the future technologies, that will surely happen to ABS-CBN.*

    ABS-CBN celebrates its 57th year anniversary as a television network.
    Currently, ABS-CBN holds 19 channels terrestrial, cable and in satellite TV.
    ABS-CBN, as expected, in November 2010 will now start airing parallel analog NTSC-M and digital ISDB-T transmissions all over 17 Metro Manila cities and municipalities and some other key areas near Manila like Bulacan, Pampanga, Rizal, Cavite and Laguna. This marks the network’s official and initial public testing of the new ISDB-T standard.
    ABS-CBN is planning to have big acquisitions of advanced technologies in digital multimedia broadcast engineering, as they celebrate the network’s 60th year of being undisputedly the largest and the number 1 network in the country.
    ABS-CBN being HD-ready network will follow Balls HD’s success, as it will open another HD channel in the future, the ABS-CBN News Channel HD, soon.
    ABS-CBN taps to incorporate its mother station ABS-CBN 2, its affiliate Studio 23, and its other cable-became-terrestrial channels, for a digital broadcast using 1 high definition, 1 standard definition and 1 mobile 1-seg channel, 3-5 years after its transition/migration to digital television.
    ABS-CBN affiliate Star Cinema will invest in RED Digital Cameras bringing 4K resolution movies, 4 times the resolution of a full-HD movie 1080p, the first in the Philippines to do so, soon.
    ABS-CBN Star Home Video plans to release the first Blu-Ray films for Filipino movies, maybe 3-5 years.
    ABS-CBN also plans to have a DTH service in and outside the Philippines 5-10 years.
    ABS-CBN, maybe in 2020 or more will shift to true 3D HD broadcast in sports. The network is planning to have the Philippines’ first 3D broadcast with UAAP again, as it marked the first true HD broadcast in the country.
    ABS-CBN will incorporate 4G multimedia broadcast in news gathering and production…

  5. Anonymous // November 4, 2010 at 8:26 am //

    alamin muna ang ibig sabihin ng leverage & refinance bago mag-comment kc nagpapahalata kayong walang alam sa business

  6. Anonymous // November 4, 2010 at 8:19 am //

    wala kayong mga alam sa leverage mga kanguso kaya manahimik na lang kayo!!!

  7. Anonymous // November 4, 2010 at 8:18 am //

    wala kayong mga alam sa leverage mga kanguso kaya manahimik na lang kayo!

  8. hay ang LOW CLASS na EBS–NANGUTANG na naman!!


    LOW-CLASS NA LOW-CLASS talaga!!! hahahahahahaha

    buti pa yung kapitbahay kong mahirap—nagagawang kumita ng ipambayad ng sariling utang..

    pero ang ABS-CBN–UMUTANG para ipambayad ng UTANG!!! nakakatawa!!!!! hahahahahahahahahahahahahahahaha

  9. Ang ABS-CBN ay nag-loan ng 10B para mabayaran ang dati niyang utang na 6.6B (na may mas mataas na interest rate)at yung remaining 3.4 ay gagamitin sa pag-upgrade ng kanilang facilities from analog to digital… tama ho ba?

    My comment– mahusay ito na paraan para gumaan ang kanilang bayarin… so makakatipid ang ABS kasi mas mababa ang rates ng kanilang bagong utang kupare sa dati…

    huwag nating kalimutan na nadagdagan po ang kanilang utang mula 6.6B now 10B…

  10. solid_kapamilya // November 2, 2010 at 10:45 pm //

    to all kanguso here:

    please stop posting nonsense comments which just shows how such idiots your kinds are..

    for sure di nio naman naintindihan yung article kaya todo post kayo ng mga walang kwenta..

    kung ako sa inyo, mangutang na rin kayo or pagsabihan niyo mga magulang niyo na mangutang kasi mukhang wala na kayong pang-aral, nagiging bobo at tanga na talaga ang lahi ng mga kanguso..hahahaha.palibhasa mga kanguso mga class d and e, mga LOW CLASS!!hahahaha

  11. Ngayon lang napost ang TNS/AGB ratings for Oct. 26-28... sa PEP... // November 2, 2010 at 6:09 pm //

    Walang kinalamang sa TV ratings ang news post na ito…

  12. magtaka tayo pag naintindihan ng mga bobong kapuso yan..ano pa ba aasahan natin, eh mga class e yang mga yan, walang pang taste! kaya nga sila naging kapuso eh.


  14. ayon oh pinapakita pa nga nila ang partnership sa picture…. wahahaha mag isip nga kayo…

  15. Hoy magbasa nga kayo,,, it shows na ang ABS ay pinagkakatiwalaan, at siyempre gagamitin naman yun sa DIGITAL TERRESTRIAL CHANNEL kung saan ang GMA walang concrete na plan at walang plano magloan kc di nila kaya ang ABS kayang kaya… hahahaha

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