GLOBE CLOSES TERM LOAN WITH BPI

Sun.Star Cebu - - BUSINESS -

Globe Tele­com Inc. signed a US$40 mil­lion term loan fa­cil­ity with Bank of the Philip­pine Is­lands. The loan shall be used to par­tially fi­nance the com­pany’s mat­u­ral obli­ga­tions , cap­i­tal ex­pen­di­tures and gen­er­ate cor­po­rate re­quire­ments. Globe’s to­tal con­sol­i­dated ser­vice rev­enues as of Septem­ber this year was P103.3 bil­lion, an in­crease of nine per­cent year-on-year. The sus­tained growth mo­men­tum was fu­eled by bet­ter-than-ex­pected data-re­lated rev­enue growth across all busi­ness seg­ments. For the first nine months of 2018, Globe in­vested around P32.5 bil­lion in cap­i­tal ex­pen­di­tures to sup­port the grow­ing sub­scriber base and ad­dress its rapidly chang­ing and ris­ing de­mand for data.

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