MANILA - Globe Telecom will list its retail bonds at the Philippine Dealing and Exchange Corp. on June 1.
In a statement, Globe said it signed up with PDEx for the listing of the telecom company's P10 billion retail bonds.
The telco recently raised P4.5 billion in five-year and P5.5 billion in seven-year fixed-rate bonds. Philippine Rating Services Corp. assigned its highest PRS Aaa.
“We look forward to listing our latest retail bond issue with the PDEx. This will allow our investors to enjoy increased liquidity and transparency as they are able to see the best market prices,” said Alberto M. De Larrazabal, Globe chief financial officer.
The telco aims to use the proceeds of its bond issuance to finance its ongoing network upgrade, which would require $790 million in the next five years, of which $640 million will be spent through 2013.
source: interaksyon.com
