We are thrilled to announce that the DITO Telecommunity Financing project has won the IJGlobal Award 2023 for ‘Telecom Deal of the Year.’ IJGlobal is a leading online publication that serves as one of the world’s most valuable sources for Energy, Project Finance, and Infrastructure data. The Asia Pacific winners in the deals category were revealed at the APAC awards night, which was held on April 18, 2024 at the Raffles Hotel in Singapore.
In September 2023, DITO Telecommunity achieved a landmark milestone by securing a facility worth USD3.9-Billion Dollars to roll out 4G/5G telecommunication networks. This is part of a USD5-Billion Dollar project that is set to revolutionize the Philippines’ telecom sector by significantly elevating DITO’s presence in the market and disrupting the longstanding duopoly in the industry. This 15-year long-term project financing, involving 10 lenders, stands out as one of the most innovative telecoms project financings developed in Asia.
Villaraza & Angangco is proud to have played a key role in this groundbreaking and multi-jurisdictional transaction by acting as one of the legal advisors for DITO Telecommunity. The V&A Law Team was led by Senior Partner, Sylvette Y. Tankiang and Partner, Richard Henrick I. Beltran, and was assisted by a team of Associates composed of Raymond John S. Cheng, Ira Mari J. Sembrano, Maria Francesca S. Vergara, and Shaneena M. Kumar. Shearman & Sterling acted as international counsel for DITO Telecommunity.
See the full list of winners here: https://www.ijglobal.com/articles/180969/ijglobal-awards-2023-asia-pacific-deal-winners