GlobeTel borrows P5B from RCBC
Globe Telecom has signed a P5-billion loan agreement with the Rizal Commercial Banking Corp. (RCBC) to fund its capital expenditures for 2012.
The seven-year, P5-billion fixed-rate term loan facility with RCBC was the second loan agreement signed by Globe this year.
Taking advantage of the low interest environment to replace some loans with cheaper debt, Globe closed a seven-year, P7-billion loan with another local bank last February. This loan was to pre-pay debts and fund a portion of capital expenditures for 2011.
Recently, Globe announced it would invest $790-million to undertake a massive network modernization and IT transformation program over the next five years to boost capacity, improve network quality and meet the growing demand for bandwidth-heavy services such as broadband and mobile data.
Of this amount, $640-million will be spent in 2012 and 2013.
As of end-September 2011, Globe had a debt-to-equity ratio of 1.04. The company posted record-high revenue of P49.987-billion, with net income hitting P7.994 billion.
Popular Posts
-
Because you’re a “gadgeteer” looking for a way to connect all your gadgets when you’re on the go, Smart Bro Pocket WiFi is best for you: C...
-
GLOBE Telecom Inc. wants the Aquino administration to stop market leader Philippine Long Distance Telephone Co.'s (PLDT) acquisition of ...
-
In a matter of one week, SkyCable Corp. introduced two new offerings that elevate its Internet package to the 5Mbps /15GB grade and its cab...
-
Mercantile Office System — the authorised distributor of the Taiwan based D-Link (High Speed ADSL Broadband) Company in Nepal — has brought ...
-
Globe Telecom is cracking down on abusive Internet users who hog all the available bandwidth, in the process deteriorating the services for ...
-
Dominant carrier Smart Communications will begin public tests of its long-term evolution (LTE) Internet in Metro Manila ahead of the commerc...
-
The Huawei E5832 wireless modem sends out a Wi-Fi signal to give you internet connection whenever you need it. With your own mobile Wi-Fi co...
-
Tech Mahindra ranked #1 Telecom Software Service Provider Mumbai, July 27, 2011- Tech Mahindra, a global systems integrator and business t...
-
List of Broadband Service Providers 1. sky bradband 2. sun broadband 3. smart broadband 4. destiny broadband 5. globe broadband 6. pl...
-
Stay Connected. Globally. Stay connected to the Internet while traveling in Philippines with XCom Global. Our international broadband wire...