Globe Telecom Inc. has signed a seven-year, P 7-billion term loan with the Philippine National Bank, the proceeds of which will be used to finance the telecom company’s capital expenditures (capex) and general corporate requirements for 2015.

According to a recent disclosure, the capex for 2015 would be approximately $650 million, of which 75 percent would be for data-related projects because of growing demand for data and internet connectivity.

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