Globe secures PHP5bn loan for network investments

22 May 2009

Filipino telecoms operator Globe Telecom, backed by the Ayala group, has revealed plans to borrow PHP5 billion (USD105.7 million) to fund its capital expenditure plans via bonds with fixed and floating rates. GMANews reports the firm inked a deal to secure the facility yesterday, arranged by First Metro Investment Corp, the investment banking arm of Metrobank Group; the fixed and floating notes mature in 2014 and 2016.

Globe Telecom is allocating between USD350 million and USD400 million in CAPEX in 2009 which, though lower than last year’s figure, will include considerable investments in both fixed and wireless broadband infrastructure and services for home users, network enhancements and maintenance on its 2G platforms, and investment in the group’s enterprise and corporate wireline data business.

Philippines, Globe Telecom (incl. Innove)