Globe Signs $75M Term Loan Facility to Fund Capital Expenditures
Makati—(PHStocks)—Globe Telecom signed a $75 million term loan facility with The Bank of Tokyo-Mitsubishi UFJ, Ltd. (Singapore branch) as lender.
Proceeds of the loan will be used to finance 2013 capital expenditures, of which $450 million to $500 million has been earmarked for the Company’s ongoing network modernization and transformation program, and investments in fixed line, international cable facilities, and IT infrastructure.
For 2012, Globe Telecom reported record consolidated service revenues of Php82.7 Billion, 6% above previous year’s level of Php77.8 billion, as the mobile and broadband segments delivered service revenues of Php67.2 billion and Php8.7 billion, respectively, both record highs as well. Core net income for 2012 rose to Php10.3 billion, an increase of 2% from Php10.0 billion last year.
For more information, please contact:
Ms. Yoly C. Crisanto
Head, Corporate Communications
Globe Telecom, Inc.
Tel. No. (02) 730-2627
Email address: firstname.lastname@example.org