Philippine operator Globe Telecom has signed a three-year US$40m term loan facility with Mizuho Bank.
Albert de Larrazabal, Globe’s CFO, said in a stock exchange announcement that the proceeds will be used to refinance some of its debt. Noting the…
Philippine operator Globe Telecom has signed a three-year US$40m term loan facility with Mizuho Bank.
Albert de Larrazabal, Globe’s CFO, said in a stock exchange announcement that the proceeds will be used to refinance some of its debt. Noting the favourable environment in the debt market, Larrazabal added that the “loan will help us generate savings”.
In an earlier interview with TelecomFinance, the CFO had confirmed that Globe is “indeed looking at financing given that interest rates are really low”.
The operator recently listed PhP7bn (US$160m) retail bonds on the Philippine Dealing and Exchange Corp, bringing the total amount raised by Globe so far this year to almost US$400m, including the US$40m loan.
