GLOBE CLOSES TERM LOAN WITH BPI

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.