Globe secures USD75m loan for 2013 CAPEX

Filipino operator Globe Telecom has secured a USD75 million loan facility with the Singapore branch of the Bank of Tokyo-Mitsubishi UFJ Ltd, to help fund its 2013 capital expenditure programme. Globe, which is completing a major USD700 million network modernisation to increase capacity and service resilience, says it has ring-fenced between USD450 million and USD500 million for modernisation and transformation projects, as well as for investments in fixed line, international cable and IT infrastructure.