Philippines' Globe Telecom will not be looking abroad for funding

By Angela McDaniels

Tacoma, Wash., Dec. 15 - Globe Telecom, Inc. has no immediate plans to raise funds through the international capital markets, according to a 17-C filing with the Philippine Securities and Exchange Commission.

The company attributed its decision to the liquidity of the domestic debt markets and the availability of competitively priced funds from domestic and overseas banks and export credit agencies.

According to the filing, the company had PHP 44.25 billion of debt outstanding as of Sept. 30.

Globe Telecom is a telecommunications firm based in Mandaluyong City, the Philippines.

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