Globe to borrow $400M this year

Posted at 03/03/14 10:52 AM

MANILA, Philippines - Globe Telecom is planning to borrow about $400 million for its capital expenditures this year.

Globe chief financial officer Alberto de Larrazabal said the company could borrow from foreign and local banks or issue debt instruments.

Larrazabal said the telco is spending between $600 million and $650 million for its capital expenditures in 2014, as it continues its transformation initiatives for its data network.

Globe is embarking on building more sites, boosting capacity and enhancing its performance. - ANC