Globe closes P15-B term loans

Published December 3, 2021, 4:32 PM

by Emmie V. Abadilla

Globe-Telecom_CNNPH (2)

Globe Telecom Inc. signed a P15-billion term loan facility from Banco de Oro (BDO) and Land Bank of the Philippines (LandBank) for capital expenditures, re-financing debts and for general corporate requirements.

The loans comprised of ₱10 billion from BDO and ₱5 billion with LandBank.

So far, the telco has spent ₱65.4 billion in capital expenditure, of as of end-September 2021, surpassing last year’s full year investment of ₱60.3 billion.

About 84 percent of its capex investment went to data network builds to address the countey’s surging mobile and internet demand.

As part of Globe’s campaign to deliver first-world connectivity to Filipinos, the company sustained its network build momentum with 1,080 new cell sites, upgrading at least 12,900 sites including both 4G LTE and 5G, and installing over one million fiber-to-the-home lines, which already surpassed this year’s full-year target.

Globe is fully committed to support 10 of the United Nations Sustainable Development Goals, such as UNSDG No. 9 highlighting the role of infrastructure and innovation as crucial drivers of economic growth and development.

 
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