GLOBE Telecom Inc. has launched a tender offer for $600 million in senior perpetual capital securities issued in 2021 as part of a liability management program.
In a disclosure on Tuesday, Globe said it was offering to buy back any and all of the securities at $1,000 apiece plus an accrued distribution payment.
The tender offer started on April 14 and will expire on April 22 unless extended, re-opened, revoked, or terminated.
Results will be announced on April 23 if the original schedule is followed.
Morgan Stanley was designated as dealer manager for the transaction.
Globe's share price rose by P3.00 to close at P1,633 apiece on Tuesday.
ED PAOLO SALTING