Smart inks five-year Metrobank loan for CAPEX requirements

2 Jan 2007

According to reports from online news journal Balita, Filipino mobile operator Smart Communications has completed a five-year multi-currency loan from Metrobank and Trust Co to fund its future capital expenditure requirements. The company’s president, Napoleon Nazareno said the PHP5 billion (USD102.2 million) loan will be used to support its network upgrade and expansion plans. He went on to say that the domestic market offers Smart ample room for growth and that the firm is expanding the range of products and services on offer, with a particular focus on the nascent broadband market.

Philippines, Smart Communications (Philippines)