Saturday 24 March
Powered by Ajaxy
Mar 13, 2018 @ 17:49

Globe secures P7B credit facility from Japan’s Mizuho Bank


Ayala-led Globe Telecom Inc. has obtained loan facilities of more than P7 billion, which it plans to use to partly fund its ongoing massive expansion program.

In a disclosure to the Philippine Stock Exchange, Globe said it signed P6 billion and $20 million seven-year term loan facilities with Mizuho Bank Ltd.

“The loans shall be used to partially finance the company’s capital expenditures and general corporate requirements,” Globe said.

Globe earlier programmed between $850 million and $900 million yearly until 2019 for the continued expansion of its mobile and broadband networks.

It spent around P42.5 billion or $844 million last year to support its growing subscriber base and meet the demand for data.


Tags: , , , , ,

Related Stories
Shareholders of this big bank better mark their calendars.
Ayala-led Bank of the Philippine Islands obtained the Philippine Stock Exchange’s approval to raise as
More loans mean more dough for this lender.
Home improvement and construction supplier Wilcon Depot Inc. expects to reach its target of 65


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.