INTEGRATED telco PLDT on Tuesday said that they had completed with Unity Digital Infrastructure, the sale and leaseback of some 135 telco towers out of the 650 towers for P1.9 billion.
In their disclosure at the Philippine stock exchange, PLDT said that the closing was done on May 16 to which the master services agreement covering the leaseback agreement for the towers also become effective on the same day.
“PLDT expects to transfer additional towers over the next few months as closing conditions are met, with all transfers expected to be completed in 2023,” the telco said.
First closing of the transaction was achieved with the completion of the sale of 135 telecommunications towers to Unity. A corresponding cash consideration of P1.9 Billion was received by the Group.
It will be recalled that in December, PLDT Inc said a total of P9.2 billion sale and leaseback deal with Unity Digital Infrastructure was done.
PLDT said that upon completion, Smart will lease back the towers for 10 years at competitive terms.
As of December, PLDT’s total number of towers to be monetized through sale and leaseback reached over 6,500 worth over P86 billion.
PLDT expects to transfer additional towers over the next few months as closing conditions are met, with all transfers expected to be completed in 2023.
Catherine R. Cueto