BUSINESS

ABS-CBN seeks longer-term refinancing for loans

Toby Magsaysay · Aug 18, 2026, 11:20 PM

THE ABS-CBN Broadcasting Center, located at Sgt. Esguerra Avenue corner Mother Ignacia Street in Quezon City, is slated for demolition. The iconic complex served as the longtime headquarters of the country’s prominent media and entertainment company. — Photo courtesy of ABS-CBN

ABS-CBN Corp. has extended its financial lifelines as the once-dominant broadcaster continues efforts to repair its debt-laden balance sheet.

A Monday disclosure to the Securities and Exchange Commission (SEC) showed that the company had extended the maturity of its P5-billion loan from the Bank of the Philippine Islands (BPI) “on various dates up to 31 August 2026.”

Its separate P4.75-billion loan from Union Bank of the Philippines was likewise extended to 30 September this year.

“The loan extensions involved revisions to certain terms, including interest rates and collateral requirements,” the disclosure read. “The Parent Company continued discussions with its Lenders for the proposed long-term refinancing of the loans.”

BPI, UnionBank loans extension

ABS-CBN had previously secured an extension for its BPI loan, which originally matured in March last year, to 1 September 2025. Its UnionBank loan had likewise previously been extended to 27 February.

ABS-CBN has seen its earnings plunge following the revocation of its franchise under the Duterte administration at the onset of the pandemic. The Lopez family-led company sank deeper into the red in the first half of 2026, posting a net loss of P1.83 billion from January to June, more than twice the P852-million loss recorded in the same period last year.

Consolidated revenues slid 17 percent to P6.88 billion, while its Content Production and Distribution business, a key pillar of the company’s post-franchise operations, saw revenues fall 9 percent to P5.76 billion in the first half.

Set to receive P6 billion in fresh capital

ABS-CBN’s latest debt restructuring is the latest move the company has undertaken to strengthen its balance sheet. The company is set to receive around P6 billion in fresh capital through the issuance of 1.64 billion new shares, led by I&C Holdings Corp., which will become ABS-CBN Corp.’s second-largest shareholder behind the Lopez family bloc after investing P3.5 billion.