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MANILA, Philippines - PLDT will sell up to P6 billion worth of bonds to pay existing debt.

The country's largest phone company says it has tapped First Metro Investment Corp. and BPI Capital Corp to help it sell the bonds.

Last month, PLDT raised P8.8 billion by selling 7- and 10-year fixed rate corporate notes.

As of September, PLDT's gross debt totaled more than $3 billion.  - ANC, Business Nightly, November 8, 2012