Globe Telecom has reportedly borrowed about PHP8 billion (USD66 million) from the Singapore branch of German-based Norddeutsche Landes-bank to help fund its spending requirements this year. In a filing to the local stock exchange Ayala-led Globe said it signed the deal with Norddeutsche Landes-bank Girozentrale’s Singapore branch for a three-year floating interest loan on 24 December 2008.
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