Globe banks on P15-B financing rollout

Proceeds from borrowings will be used to finance the company’s capital expenditures (capex), debt refinancing and for general corporate requirements

Dominant telco Globe Telecom recently closed term-loan facilities with BDO Unibank Inc. and Land Bank of the Philippines (LandBank) for a total of P15 billion.

BDO will provide P10 billion while LandBank will foot P5 billion in the transactions.

Proceeds from borrowings will be used to finance the company’s capital expenditures (capex), debt refinancing and for general corporate requirements.

Globe said in a statement that it posted a record capital expenditure of P65.4 billion for the year until September.

84% for network

The amount surpassed last year’s full year infusion of P60.3 billion. About 84 percent of the capex went to data network builds to address and elevate mobile and internet experience for a greater number of Filipinos.

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 for both 4G LTE and 5G. It also installed over 1 million fiber-to-the-home lines, which already surpassed the year’s full-year target.

Globe is fully committed to support 10 of the United Nations Sustainable Development Goals, such as UN SDG 9 that highlighted the role of infrastructure and innovation as crucial drivers of economic growth and development.