Globe secures $155M loan to fund expansion
Ayala-led Globe Telecom Inc. inked a seven and 10-year $155 million loan from Metropolitan Bank and Trust Co.
The money would be used to finance part of Globe’s capital expenditures this year.
Globe has set a capital spending program of $750 million this year, of which $550 million had already been spent in the forst half to support the growing demand for data across its mobile, broadband and enterprise segments.
The telco is considering raising its capex guidance by $50 million to $100 million to continue addressing the growing demand for quality data services ini the country.