PLDT Group announces first closing of sale and leaseback towers deal with Unity

MANILA, May 15, 2023 – PLDT Inc. (“PLDT”) (PSE: TEL) (NYSE: PHI), the country’s largest integrated telco, is pleased to announce a significant milestone in connection with the sale and leaseback of 650 telecommunications towers and associated passive telecommunications infrastructure to Unity Digital Infrastructure Inc. (“Unity”) that was announced on December 15, 2022.

The first closing of the transaction was achieved today with the completion of the sale of 135 telecommunications towers to Unity. Corresponding cash consideration of PHP1.9 Billion was received by the Group.

The Master Services Agreement covering the leaseback arrangement for those towers also became effective today.

PLDT expects to transfer additional towers over the next few months as closing conditions are met, with all transfers scheduled to be completed in 2023.