PH’s Globe Telecom to raise $310m debt from Philippine National Bank

Brand image from the company website

Philippine-listed telecommunications company Globe Telecom Inc disclosed on Tuesday that it signed a seven-year P7 billion ($310 million) term loan with the Philippine National Bank (PNB) meant to finance its capital expenditures (CAPEX) and corporate needs for 2015.

Globe said it plans to use the CAPEX balance to invest in new platforms and business support systems along with product innovations, store deployments, among others.

The telecom plans on tapping the growing demand for data and Internet connectivity in the Philippines, indicating in its recent disclosure that its new programmed CAPEX for 2015 would be around P28.7 billion ($650 million), of which 75 per cent would be for data-related projects.

Globe made a new consolidated service revenue record in 2014, reaching P99 billion ($2.23 billion), outdoing its P90.5 billion ($2 billion) in 2013.

The company’s core net profit was  25 per cent higher than the figure in 2013, hitting P14.5 billion ($227.5 million ) in 2014.

Globe’s last traded price was at P1,950, up by 0.52 per cent or P10 to yesterday’s P1,940.

Related stories:

PH telco Globe registers 198% jump in income

Singapore’s Globe Telecom unit gets FBO license 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.