Globe increases bond offer to PHP5bn

13 Mar 2009

Filipino cellco Globe Telecom is raising the size of its planned bond offer by 25% from PHP4 billion (USD82.3 million) to PHP5 billion. Local press reports say Globe, which is owned by Ayala Corp and Singapore Telecommunications (SingTel), has agreed with its underwriters to increase the oversubscription option from PHP1 billion to PHP2 billion. The proceeds will be used to fund Globe’s various capital expenditures, the company said.

Philippines, Globe Telecom (incl. Innove)