BANK LEUMI LE-ISRAEL

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                    [ArticleID] => 185734
                    [Title] => PT&T signs P8.8-B restructuring pact
                    [Summary] => Telecommunications company Philippine Telegraph & Telephone Inc. (PT&T) has finally signed a master restructuring agreement with 11 of its creditors involving P8.8 billion in debts.


The agreement, which covers 75.4 percent of PT&T’s total indebtedness, calls for the conversion of about P4.4 billion in debts into equity, a restructuring of the remaining balance over a 10-year period conversion of all lenders to secured bases, and a reorganization of the company’s board of directors.


                    [DatePublished] => 2002-11-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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                    [SectionName] => Business
                    [SectionUrl] => business
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PT&T signs P8.8-B restructuring pact

November 28, 2002 - 12:00am

Telecommunications company Philippine Telegraph & Telephone Inc. (PT&T) has finally signed a master restructuring agreement with 11 of its creditors involving P8.8 billion in debts. The agreement, which...

Business