Taguig—(PHStocks)—Globe Telecom Inc. (PSE: GLO) signed a 12-year and 15-year PhP20 billion term loan facility arranged by First Metro Investment Corp. with Metropolitan Bank and Trust Co. (PSE: MBT) as lender. The loan shall be used to finance the acquisition of a 50% equity interest in Vega Telecom Inc., Bow Arken Holdings Co. Inc., and Brightshare Holdings Corp. Globe’s acquisition relates to the companies’ owning and operating telecommunications services, licenses, and all other assets.
Mobile internet customers are expected to benefit from the added capacities and greater geographic coverage from the acquisition. This exemplifies Globe’s continuous commitment and investments in improving the network and quality of service. These investments will enable Globe to support the data needs of existing and new customers and allow them to enjoy their digital lifestyles.