Filipino carrier Globe Telecom will today list bonds worth a total of PHP10 billion (USD230.3 million) on the Philippine Dealing and Exchange Corp (PDEx), the firm said in a filing yesterday. The agreement signed with the bourse will allow Ayala-led Globe to trade PHP5.5 billion-worth of five-year bonds and PHP4.5 billion of seven-year bonds, it said. Proceeds from the bond issuance will be used in part to fund the telco’s ‘ongoing modernisation and information technology transformation programme, as well as to finance other capital expenditure requirements for the year.’ TeleGeography’s GlobalComms Database writes that in January this year Globe embarked upon a major network modernisation programme in preparation for the expected rise in voice and data traffic in the country
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OVETEL Globe Telecom to list PHP10bn of bonds on PDEx
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