Ayala-led Globe Telecom Inc. has secured a ₱5-billion loan from BDO Unibank Inc. to help finance its capital expenditures (capex) for the year, aimed at keeping pace with the country’s growing data demand.

In a disclosure dated June 23, Globe said it signed a loan facility with BDO to partially fund its capex, debt refinancing, and general corporate requirements.

Globe is keeping its full-year capex guidance at under $1 billion as it looks to future-proof its network and remain responsive to evolving connectivity needs.

“With focused investments and innovation shaped by consumer needs, Globe continues to strengthen its digital infrastructure, empowering more Filipinos, households, and businesses to succeed in the digital age,” Globe said.

For the first quarter, the company spent ₱12.7 billion on capex, up 50 percent from ₱8.46 billion in the same period last year.

These investments support Globe’s network expansion and capacity enhancements to handle rising data traffic, which is heavily fueled by the increasing adoption of digital services.

Globe President and Chief Executive Officer (CEO) Carl Cruz earlier noted that the company remains firm in its investment plans despite macroeconomic challenges stemming from geopolitical tensions.

He said the company is focused on deepening its fiber and 5G footprint, alongside scaling its digital platforms, to better serve customers.

“Through focused execution and more efficient capital allocation, we are strengthening our foundation to deliver sustainable long-term value,” Cruz said.

Capex for the quarter accounted for around 30 percent of the company’s service revenues, keeping Globe aligned with its target of improving its free cash flow profile and maintaining disciplined capital allocation.

Overall, Globe’s revenues expanded by four percent to ₱45.71 billion from January to March, driven largely by its mobile business.

However, net income declined by 20 percent to ₱5.55 billion from ₱6.98 billion in the same period last year, as the telco recorded a two-percent increase in expenses to ₱23.53 billion.

Despite the bottom-line dip, Globe Chairman Cezar Consing said he remains optimistic that the company can turn things around for the remainder of the year on the back of strategic intervention measures. Globe remains on track to achieve its goal of a low- to mid-single-digit increase in full-year revenues, he added.