Globe Telecom Secures $50 Million Canadian Loan

The Philippines based mobile network operator, Globe Telecom has signed a US$50 million loan facility with Canada's Export Development agency. In a brief statement to the local stock exchange, the company said that the loan would be used to fund capital expenditure purchases from Nokia Siemens Networks.

The company has earmarked a CAPEX for this year of US$350-$400 million.

Globe Telecom is 45% owned by Singapore Telecom, with 34% owned by the local Ayala Corporation and the remaining 21% floated on the stock exchange.

Posted to the site on 4th May 2009