MANILA — PLDT Inc said on Tuesday it has completed the first closing for 135 telco towers out of the 650 sale and leaseback deal with Unity Digital Infrastructure for P1.9 billion.
In a disclosure to the stock exchange, the closing was completed on May 16 and 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.
PLDT Inc in December announced the total P9.2 billion sale and leaseback deal with Unity Digital Infrastructure. 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.