Globe marches forward with expansion
Globe Telecom Inc. plans to tap the debt market next year to fund its expansion program.
The Ayala-led telco earlier signed a seven-year and 10-year $155 million term loan facility with Metrobank, which will be used to finance its capex for the year which has increased to $850 million.
The company also signed a 10-year, P8 billion term loan facility and an 8-year, P7-billion term loan facility with BDO Unibank Inc. and another six-year, P7-billion term loan with Development Bank of the Philippines.
Globe has raised its capex this year to $850 million from the original $750 million capex.
As of the end of June this year, Globe spent around $550 million to expand its mobile, broadband and enterprise segments.