Bank of China (Hong Kong) provides $100 million loan to Globe Telecom to finance its capital expenditures

📋 Staff Comments

1. Globe Telecom, Inc., commonly known as ‘Globe’, is a major provider of telecommunications services in the Philippines. The company operates the largest mobile network in the Philippines and one of the largest fixed-line and broadband networks. As of December 2022, Globe's total mobile subscriber base reached 87.9 million. It is also the country's largest telecommunications company in terms of market capitalization. The company's principal shareholders are Ayala Corporation and Singtel. It is listed on the Philippine Stock Exchange under the ticker symbol GLO and had a market capitalization of PHP 363 billion as of the end of August 2021.

📚 Sources & References

• Globe inks USD100m loan for CAPEX; PLDT picks Nokia for network transformation
• SEC FORM 17-C CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATIONS CODE (SRC) AND SRC RULE 17(a)-1(b)(3) THEREUNDER
• SEC Form 17-A FOR THE FISCAL YEAR ENDED 31 DECEMBER 2021
• Globe secures ₧12-billion loan from PNB
• China Bank Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.