Globe plans to raise up to $150-M for capex

Posted at 04/13/2010 1:21 PM | Updated as of 04/13/2010 1:21 PM

MANILA, Philippines - Globe Telecom Inc., the Philippines' second largest telecoms firm, plans to raise between $100 million and $150 million through a debt issue or bank loan to fund its 2011 capital outlay, an official said on Tuesday.

"We're looking at $100-$150 million borrowings in the second half to finance the capex of 2011," Alberto de Larrazabal, chief financial officer at Globe, told reporters.

"Interest rates may climb so we are taking a look already and will probably lock it in in the second half."