Globe Telecom secures a loan of $50Mn from Export Development Canada (Philippines)

www.WirelessFederation.com/news: Globe Telecom, the Filipino telco, has signed a $50 million loan facility with Export Development Canada. The loan will be utilised ‘to fund capital expenditure purchases from Nokia Siemens Networks,’ Globe said in a statement.
Globe had last month finished off a $103.7 million five-year loan facility with state-owned Land Bank (also known as Landbank) to help fund its capital expenditure in 2009.
The operator had earlier revealed its plans of investing nearly $350 million and $400 million in its networks and services, of which USD130 million will be used to fund its core 2G network expansion, while consumer broadband including 3G will get USD150 million.
A further $25 million will be utilised for corporate wireline data services, USD20 million will be for support CAPEX and USD25 million for international cable facilities.