Trolling PLDT, Globe, Smart and Sun!
Alberto de Larrazabal, Globe Chief Financial Officer:
“It was a little oversubscribed. This demonstrates the investors’ continued interest in Globe.”
“We are keeping it to P10 billion even it was oversubscribed. We decided to limit it to that.”
Troll: Globe was allowed to issue up to P15B in fixed-rate bonds but chose to initially make do with ten.
“We still have P5 billion remaining and we will probably issue it toward the end of the year and use the proceeds for next year’s spending.”
The generated funds will be used to fund an ongoing network modernization and IT transformation program, as well as to finance other CAPEX costs for the year (Globe projects to spend USD640M for 2012-2013).
For Q1 of 2012, Globe had a conservative figure for its gross debt-to-equity ratio which was pegged at 1.09:1, and gross debt-to-earnings before interest, taxes, depreciation and amortization (EBITDA) ratio at 1.48:1 which is well within its debt covenant of 2:1 and 3:1, respectively.
Also for Q1, consolidated service revenues grew to an all-time high of P20.2B while core net income was recorded at P2.7B.
Globe said that it re-invested a portion of its revenue gains on: