Philippine mobile network operator Globe Telecom has signed a ten-year US$90m floating rate term loan with China Banking Corporation.
The company plans to use the proceeds for its 2012 capex. This include a US$790m investment for its five-year…
Philippine mobile network operator Globe Telecom has signed a ten-year US$90m floating rate term loan with China Banking Corporation.
The company plans to use the proceeds for its 2012 capex. This include a US$790m investment for its five-year network modernisation and IT transformation programme “to boost voice and data capacity in anticipation of the growing demand for broadband and mobile data use,” the company stated.
This US$90m loan is the first one inked by Globe this year. In 2011, the company borrowed a total of approximately US$390m in three separate loans. The proceeds were mainly aimed at funding capex for 2011/2012 and repaying existing debt.
