Philippine's Globe Telecom secured Philippines peso 1.615 billion loan facility

By Reshmi Basu

New York, Dec. 22 - Globe Telecom Inc. said it signed a Philippines peso 1.615 billion syndicated loan facility on Thursday.

The facility bears a tenor of five years with a floating rate of interest.

Citicorp Capital Philippines Inc. and First Metro Investment Corp. arranged the loan.

The lenders are Citibank NA, Development Bank of the Philippines and Land Bank of the Philippines.

Proceeds from the loan will be used to refinance a portion of Globe's dollar-denominated debt.

The telecommunications firm is based in Mandaluyong City, the Philippines.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.