Globe Telecom inks USD120m loan deal with bank

25 Mar 2013

The Philippines’ second largest telecoms carrier by revenue Globe Telecom has secured a USD120 million loan with Metropolitan Bank & Trust Co, to help fund its ongoing network upgrade programme. The terms of the loan were not disclosed, but the latest funding round comes on top of the USD75 million loan it inked with The Bank of Tokyo-Mitsubishi earlier this month. Globe is looking to invest between USD450 million and USD500 million in its network upgrades, as well as ploughing monies into its fixed line, international cable links and ICT infrastructure.

Philippines, Globe Telecom (incl. Innove)