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Debt Instruments at Amortized Cost | 12 Months Ended
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Dec. 31, 2023
Debt instruments held [abstract] |
Debt Instruments at Amortized Cost | 12. Debt Instruments at Amortized Cost As at December 31, 2023 and 2022, this account consists of:
|  | 2023 |  |  | 2022 |
|  | (in million pesos) |
Retail Treasury Bonds |  |  | 440 |  |  |  | 440 |
BDO Asean Bonds |  |  | 100 |  |  |  | 100 |
Fixed Rate Treasury Notes, or FXTN |  |  | 55 |  |  |  | 56 |
|  |  | 595 |  |  |  | 596 |
Less: Current portion of debt instrument at amortized cost (Note 27) |  |  | 200 |  |  |  | — |
Noncurrent portion of debt instrument at amortized cost (Note 27) |  |  | 395 |  |  |  | 596 |
Retail Treasury Bonds On March 9, 2021, Smart purchased at par a three-year Retail Treasury Bond Tranche 25 with face value of Php 100 million maturing on March 9, 2024. The bond has a gross coupon rate of 2.375% payable on a quarterly basis. The bond is classified as debt instrument at amortized cost. Interest income, net of withholding tax, recognized on this investment amounted to Php 1.9 million each for the years ended December 31, 2023 and 2022 and Php 1.5 million as at December 31, 2021. The carrying value of this investment amounted to Php 100 million as at December 31, 2023 and 2022. On December 2, 2021, PLDT and Smart purchased at par a 5.5-year Retail Treasury Bond Tranche 26 with face value of Php 300 million maturing on June 2, 2027. The bond has a gross coupon rate of 4.6250% payable on a quarterly basis. The bond is classified as debt instrument at amortized cost. Interest income, net of withholding tax, recognized on this investment amounted to Php 11.1 million for each of the years ended December 31, 2023 and 2022, and Php 904 thousand for the year ended December 31, 2021. The carrying value of this investment amounted to Php 300 million as at December 31, 2023 and 2022. On March 4, 2022, PLDT and Smart purchased at par a five-year Retail Treasury Bond Tranche 27 with face value of Php 40 million maturing on March 4, 2027. The bond has a gross coupon rate of 4.8750% payable on a quarterly basis. The bond is classified as debt instrument at amortized cost. Interest income, net of withholding tax, recognized on this investment amounted to Php 1.6 million and Php 1.3 million for the years ended December 31, 2023 and 2022, respectively. The carrying value of this investment amounted to Php 40 million as at December 31, 2023 and 2022. On September 29, 2022, Smart purchased at premium a three-month Retail Treasury Bond 05-11 with face value of Php 5 million which matured on December 4, 2022 at a gross coupon rate of 4.6250%. The bond was classified as debt instrument at amortized cost. Interest income, net of withholding tax, recognized on this investment amounted to Php 59 thousand for the year ended December 31, 2022. BDO ASEAN Sustainable Bond On January 28, 2022, PLDT and Smart purchased at par a two-year BDO Fixed Rate ASEAN Sustainability Bond Due 2024 with face value of Php 100 million which subsequently matured on January 28, 2024. The bond has a gross coupon rate of 2.90% payable on a quarterly basis. The bond is classified as debt instrument at amortized cost. Interest income, net of withholding tax, recognized on this investment amounted to Php 2.2 million and Php 2.1 million for the years ended December 31, 2023 and 2022, respectively. The carrying value of this investment amounted to Php 100 million as at December 31, 2023 and 2022. FXTN On June 3, 2022, Smart purchased at a discount a three-year FXTN 03-27 with face value of Php 25 million maturing on April 7, 2025. The bond has a gross coupon rate of 4.25% payable on a semi-annual basis. The bond is classified as debt instrument at amortized cost. Interest income, net of withholding tax, recognized on this investment amounted to Php 850 thousand and Php 760 thousand for the years ended December 31, 2023 and 2022, respectively. The carrying value of this investment amounted to Php 25 million as at December 31, 2023. On June 16, 2022, Smart purchased at a premium a seven-year FXTN 07-67 with face value of Php 10 million maturing on May 19, 2029. The bond has a gross coupon rate of 6.5% payable on a semi-annual basis. The bond is classified as debt instrument at amortized cost. Interest income, net of withholding tax, recognized on this investment amounted to Php 520 thousand and Php 361 thousand for the years ended December 31, 2023 and 2022, respectively. The carrying value of this investment amounted to Php 10 million as at December 31, 2023. On July 7, 2022, PLDT and Smart purchased at a premium a four-year FXTN 07-62 with face value of Php 20 million maturing on February 14, 2026. The bond has a gross coupon rate of 6.25% payable on a semi-annual basis. The bond is classified as debt instrument at amortized cost. Interest income, net of withholding tax, recognized on this investment amounted to Php 1.0 million and Php 1.4 million for the years ended December 31, 2023 and 2022, respectively. The carrying value of this investment amounted to Php 20 million as at December 31, 2023 and 2022.

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