Tue, May 22, 2012 - Page 12 News List

Global Mobile secures syndicated loan

By Amy Su  /  Staff reporter

Global Mobile Corp (全球一動), a local operator providing fourth--generation (4G) WiMAX services, yesterday announced that it signed on Friday a NT$640 million (US$21.64 million) syndicated loan agreement with seven domestic banks to finance its 4G infrastructure expansion plans.

The five-year syndicated loan was led by Taiwan Cooperative Bank (合作金庫銀行) alongside another six banks, including -Cathay United Bank (國泰世華銀行) and the Medium Business Bank of Taiwan (臺灣中小企業銀行), the operator said in a statement.

Each licensed WiMAX operator is required to have at least 70 percent 4G coverage in its area to be considered qualified for a merger, according to regulations set out by the National Communications Commission.

Global Mobile said the development loan would allow it to reach the government’s target in northern Taiwan by the end of this year and that it should be able to further strengthen its coverage network to at least 90 percent by 2014.

The operator said it expected user numbers to total 1.5 million by 2017 on the back of the company’s infrastructure optimization, the statement said.

Meanwhile, the mobile technology group said it and HTC Corp (宏達電) would jointly launch the HTC EVO Design, Taiwan’s first 4G WiMAX smartphone on Wednesday.

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