Philippine mobile operator Globe Telecom has signed an agreement with the Philippine Dealing and Exchange (PDEx) to list PhP10bn (US$230.3m) worth of bonds on 1 June.
Alberto De Larrazabal, Globe’s CFO, said: “We look forward to listing our…
Philippine mobile operator Globe Telecom has signed an agreement with the Philippine Dealing and Exchange (PDEx) to list PhP10bn (US$230.3m) worth of bonds on 1 June.
Alberto De Larrazabal, Globe’s CFO, said: “We look forward to listing our latest retail bond issue with the PDEx. This will allow our investors to enjoy increased liquidity and transparency as they are able to see the best market prices.”
This bond listing comprises PhP4.5bn (US$103.6m) five-year fixed rate notes and PhP5.5bn (US$126.7m) seven-year fixed rate bonds due 2017 and 2019 respectively.
They form part of a PhP15bn (US$345.4m) retail bond programme announced earlier this year to help fund the company’s network modernisation and IT transformation process.
The remaining PhP5bn (US$115.1m) are expected to be issued in 2013.
