The Philippine Daily Inquirer writes that Globe Telecom has secured a PHP5 billion (USD112.4 million) loan from state-run Development Bank of the Philippines to finance its expansion activities in 2010. It is understood the facility marks the culmination of the telco’s financing requirements for the current financial year and ‘will be used to finance the company’s capital expenditures, which include the build-up of additional mobile, wireline data, broadband and international submarine facilities to support its increasing subscriber base,’ said Globe chief finance officer Alberto de Larrazabal. Globe’s CAPEX for 2010 is expected to top USD500 million, dependent on the strength of the economy. The loan follows the signing of a PHP2 billion credit facility with Lucio Tan-led Allied Bank earlier this year.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors