Investsment Opportunity: Fixed Rate Bonds (Globe Telecom)

Globe Telecom Inc., the second largest Mobile phone company in the Philippines, is issuing PhP 3 Billion worth of Fixed Rate Corporate Bonds.  Here are the details:
  
Interest rate                              7.5% for 3 Year bonds
                                                  8.0% for 5 Year bonds
Minimum Investment                  PhP 50,000 (in increments of
                                                  PhP 10,000 above minimum) 
Offer Period                               February 12-19, 2009

Issuer:                                         Globe Telecom Inc.
Issue Size:                                   PhP 3 Billion in 3 Year and 5 Year Bonds
Over Subscription Option:           Up to PhP 1 Billion
Use of Proceeds:                         Capital Expenditures
Interest Payment:                         Quarterly
Maturity:                                      3-Year Bonds - February 2012
                                                   5-Year Bonds - February 2014
Issuer's Early Redemption Option:
For 5 Year Bonds on the 3rd anniversary of Issued Date
Lead Underwriters:                      BDO Capital Corp.
                                                   BPI Capital Corp.
                                                   First Metro Investment Corp.
Co-Lead Underwriter:                 RCBC Capital Corp.
Participating Underwriter:            Vicsal Investments Inc.

Credit Rating:                            PRS Aaa (Highest credit mark)
                                                 Philippine Rating Services Corp.
                                                    (source)

Additional news about the company that might be of interest to you follows:

According to GMANews.TV
"Globe has earlier said that it will spend anywhere between $350 million to $400 million in capital outlay this year. Of the amount, $130 million will be spent to fund its core 2G network expansion and $150 million for its consumer broadband including 3G.

Its corporate wireline data will be given $25 million, the same amount allotted for its international cable facilities. Support capital expenditures will be given $20 million.

Last year, the company spent P19.9 billion, 44 percent higher than 2007’s P13.8 billion.

Globe has reported that it earned P11.3 billion last year, 15 percent lower than P13.3 billion in 2007 as revenues fell to P55.64 billion from P56.41 billion"



Have articles sent to your Email for FREE. Subscribe by Email

Related Posts Plugin for WordPress, Blogger...

Related Articles:



 

2 comments:

  1. Boyet Manuel said,

    Globe is a telecom giant but the offer is not good though due to the high inflation rate. If I have the money I would rather buy Gold!

    on February 22, 2009 at 1:35 AM  


  2. hi! your site is very informative.
    I always visit it for new information about finances.
    I have also a blog about financial literacy. I am a novice about the finance world. I am a Filipino.
    Hope you could also visit my blog and comment about it.
    Financial Literacy

    Proud to be Pinoy!

    on February 28, 2009 at 10:17 PM