Philippine mobile operator Globe Telecom has signed a seven-year, floating rate loan facility worth PhP5bn (US$115m) with BDO Unibank.
In a statement, Globe Telecom said that the funds would be used to fund capex for 2012 and to refinance existing…
Philippine mobile operator Globe Telecom has signed a seven-year, floating rate loan facility worth PhP5bn (US$115m) with BDO Unibank.
In a statement, Globe Telecom said that the funds would be used to fund capex for 2012 and to refinance existing debt.
The company’s CFO, Alberto M. de Larrazabal, said 2012 capex costs will include the initial part of the company’s mobile network modernisation programme, which will increase data and voice capacity, and drive down costs.
This development comes after the news in late November that Globe Telecom had signed a separate PhP5bn loan agreement with Rizal Commercial Banking Corp (RCBC).
