MULTIMEDIA conglomerate ABS-CBN Corp. plans to redeem its P6-billion, seven-year bonds earlier than its due date of February 2021, a disclosure to the stock exchange showed.
“ABS-CBN intends to exercise its option for early redemption of ABS-CBN’s seven-year bonds, five years and six months from issue date, at the early redemption price of 101.0 percent,” the filing read.
The company has already notified BDO Unibank Inc. of its plan to exercise the option for early redemption.
The company issued P6-billion bonds in 2014 to bankroll the construction of its sound stages, the rollout of its digital terrestrial television and the expansion of its pay-TV business SkyCable.
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