Globe receives extra $120M funding from Metrobank

Yesterday, Metrobank and Globe has formally signed an agreement for a $120M term loan that is said to be used for the telco’s capital expenditures which includes the current network modernization.

Earlier this month, Globe has also sealed a $75M term loan deal with The Bank of Tokyo. In statement made Globe said “The term loan facility with Metrobank brings to $195PHP 11,444INR 16,526EUR 186CNY 1,419 million the total loans signed by Globe for the first quarter of the year.”

globe metrobank

“Proceeds of the loan will be used to finance the company’s capital expenditures, which include the ongoing network modernization and transformation program, and investments in fixed line, international cable facilities, and IT infrastructure,” said the telco.

However, $195PHP 11,444INR 16,526EUR 186CNY 1,419-miliion is still not going to be enough considering that the company is looking at a capital expenditures amounting to a total of $450M – $500M for this year. Thus expect Globe to tap on other financial institution for additional funding.

Ronnie Bulaong

This article was written by Ronnie Bulaong, a special features contributor and correspondent for YugaTech. Follow him on Twitter @turonbulaong.

https://www.yugatech.com

8 Comments

emem says:

12 years ago

I can attest to the modernization plan. we are currently working on one of the IT Projects. Big step really. Globe is aiming to achive SingTels infrastructure. I hope they get to achieve it. para mas masaya sa Globe :p
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Iyan Sommerset says:

12 years ago

They’re really dropping the ball on this whole network upgrade event – way overdue, and yet it’s taking longer than expected and they can’t seem to be capable of a seamless, transparent upgrade. And they’re running out of money to boot?
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Kaloka says:

12 years ago

Actually, Globe is on time with their first phase of modernization. Dami kasing bobong tao like you na di alam yung schedule pero reklamo ng reklamo.

Ulvadu says:

12 years ago

Sila na lang after that pldt monopolizes everying and there wont be any choice. Just like the fixed line look how bad the service is. Try calling a pldt lineman…. Penitensya na hihingan ka pa ng pera.
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rman says:

12 years ago

good thing… Globe talaga ako dati.. 900+ pa isang sim card sa SEMICON… haay sana nga Globe na talaga ang makapagprovide ng super best quality sa communication sector… more power GLOBE.
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Rich says:

12 years ago

Nakow! Goodluck na nman sa kung papano babawiin ng Globe sa consumers/subscribers nila yang pera na yan! Pustahan marami na namang hocus-pocus sa bill at load na gagawin yan!
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smart user says:

12 years ago

palugi na ang globe kaya ganyan! hahaha
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Kris Kikino says:

12 years ago

Isa ka pang bobo na di alam kung ano ang pangungutang http://www.manilatimes.net/index.php/business/top-business-news/40959-globe-2012-revenues-up