Globe raises USD600m on international bond market

20 Jul 2020

Filipino communication services provider Globe Telecom has reportedly raised USD600 million from the sale of dual-series fixed-rate notes on the international bond market. The telco reportedly took advantage of low interest rates to serve up ten-year and 15-year senior dollar notes, raising USD300 million each. In a stock exchange filing on Friday (17 July), Globe said the monies raised will be used to fund its capital expenditure projects, amongst other things. It has set aside some PHP63 billion (USD1.28 billion) in fiscal 2020 to help develop its products, infrastructure and various support systems.

Commenting, Globe President and Chief Executive Officer Ernest L. Cu said: ‘The success of the offering … enables us to maintain our momentum, enhance our network and deliver on our commitment of providing first-world internet connectivity to the Philippines.’

Philippines, Globe Telecom (incl. Innove)