Articles tagged with: Globe Telecom and Capex

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.  more

Related Tags: nokia-siemens-networks, siemens, nokia-siemens, Philippines

Philippine Telcos Face Rising Business and Event Risk

Fitch Ratings has said today that its outlook on the major Philippine telecommunication operators, Philippine Long Distance Telephone Company (PLDT) and Globe Telecom remains broadly stable, but notes that event risk had come into greater focus in recent weeks. In November 2007, fixed-incumbent PLDT approached bondholders to seek higher flexibility on certain covenant limitations, while its main competitor Globe declared special dividends amounting to around 55% of prior-year net income. Fitch notes that these developments have not resulted in any negative rating action, but cautions that both operators have only moderate headroom for an increase in net debt at their current local currency IDR levels.  more

Related Tags: fitch-ratings, outsourcing, call-centre, fitch, Philippines