Globe signs a total of P15 billion loan from BDO, Land Bank

ABS-CBN News

Posted at Dec 03 2021 10:45 AM

MANILA— Globe Telecom said Friday it signed term loan facilities with BDO Unibank and the Land Bank of the Philippines for P10 billion and P5 billion, respectively. 

"The loans shall be used to finance the company's capital expenditures, debt refinancing and for general corporate requirements," the Ayala-led telco told the stock exchange.

As of the end of September, the telco said it has invested a total of P65.4 billion in capital expenditure, overshooting the 2020 total of P60.3 billion.

At least 84 percent of the capex was allocated to data network builds "to elevate mobile and internet experience" for Filipinos, it said.

So far, Globe said it has built 1,080 new cell sites, upgraded 12,900 sites including both 4G LTE and 5G, as well as installed 1 million fiber-to-the-homes (FTTH) lines.

Globe earlier said it posted an P18 billion consolidated net income for the January-to-September period this year.

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