Globe Telecom Inc. Signs Ten-Year $90 Million Floating Rate Term Loan Facility with China Banking Corp
January 31, 2012 at 10:35 pm
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Globe Telecom Inc. announced that it has signed a ten-year $90 million floating rate term loan facility with China Banking Corp. The loan proceeds will be used to finance capital expenditures for 2012, which includes the company's $790 million investment for its five-year massive network modernization and IT transformation program to boost voice and data capacity in anticipation of the growing demand for broadband and mobile data use. Of this amount, $640 million will be spent in 2012 and in 2013. The company looks at its broadband and data businesses as key focus areas that will sustain its growth momentum for the year.
Globe Telecom, Inc. is a Philippines digital platform company with interests in telecommunications, financial technology, digital marketing solutions, venture capital funding for startups, entertainment, and virtual healthcare. The Companyâs segments include Mobile Communications Services and Wireline Communications Services. The Mobile Communications Services segment provides digital cellular telecommunications services, which includes mobile voice, mobile SMS, and mobile data. The Company offers its mobile communications services to consumers, corporate and small and medium enterprise (SME) clients through a range of brands, including globe postpaid, globe prepaid and touch mobile. The Wireline Communications Services segment provides fixed line voice, corporate data, and home broad band services. It offers a range of fixed line communications services, wired and wireless Broadband access, and end-to-end connectivity solutions customized for consumers, SME, and businesses.
GLOBE TELECOM, INC. 
