The Philippine Star

Globe inks P5-B Landbank loan


Globe Telecom Inc. has signed a P5- billion loan facility with the Land Bank of the Philippine­s to fund its capital spending.

“The loan shall be used to finance the company’s general financing and corporate requiremen­ts for capital expenditur­es,” the Ayalaled telco said in a stock exchange filing yesterday.

Globe originally set a capex guidance of P63 billion this year, but revised it to P50.3 billion given the impact on its operations of the COVID-19 pandemic.

The company said it remains on track to meet its full- year capex guidance with its continued focus on increasing capacity and upgrades nationwide for better internet experience for customers.

As of end- September, Globe spent P33.4 billion for capital expenditur­es, 81 percent of which was invested on data- related requiremen­ts.

“This investment has benefitted Globe’s customers as evidenced in the latest global report of Open signal naming Globe as one of the most improved telecommun­ication companies in the world in terms of video experience,” the company said.

Based on third quarter data from global internet testing and analysis firm Ookla, Globe said it has the most consistent 4G network in 13 out of 17 regions in the country.

These regions include Bicol, Cagayan Valley, Calabarzon, Caraga, Central Luzon, Central Visayas, Cordillera Administra­tive Region, Eastern Visayas, Ilocos Region, MIMAROPA, Northern Mindanao, Region 12, and the Zamboanga Peninsula.

Globe said Ookla’s quarterly data showed that in terms of mobile consistenc­y score, it is now enjoying up to 64 percent consistenc­y in these high population density areas, nearing the global benchmark of 70 percent consistenc­y score.

The firm posted a 10-percent drop in its net income to P15.9 billion in the nine months ending September, while core net income, which excludes the impact of non- recurring charges, foreign exchange and mark- to- market charges, fell 13 percent year-on-year to P15.6 billion.

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