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Nov 29, 2017 @ 21:31

Ayalas get P7B additional funding for telco business expansion


Globe Telecom has secured a P7 billion seven-year term loan facility from the Land Bank of the Philippines to support its $850 million capital expenditure requirements.

Bulk of the programmed budget will go to the expansion of data-related services.

Globe had already spent $731 million as.of the end of September.

It earlier obtained a seven-year and 10-year $155 million term loan facility with Metropolitan Bank and Trust Co. and another 10-year, P8 billion term loan facility and an eight-year, P7-billion term loan facility with BDO Unibank Inc.

The company also signed a six-year, P7-billion term loan with Development Bank of the Philippines.

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