Globe Telecom beefs up 2013 capex with $75M loan

Globe Telecom Inc. on Thursday said it signed a $75 million term loan facility with The Bank of Tokyo-Mitsubishi UFJ Ltd. (Singapore branch) to finance its 2013 capital expenditures.

 

The telco is the midst of a $700 million modernization program to increase network capacity and resiliency and accommodate more voice, SMS, and data traffic.

 

The joint venture of Ayala Corp. and Singapore Telecom has earmarked $450 million to $500 million for its ongoing network modernization and transformation program as well as investments in fixed line, international cable facilities, and IT infrastructure. — VS, GMA News