Globe Telecom signs P5-billion term loan with DBP

ABS-CBN News

Posted at Dec 17 2019 11:18 AM

MANILA – Globe Telecom on Tuesday said it signed a P5 billion term loan facility with the Development Bank of the Philippines to finance its expenditures and other obligations.

“The loan shall be used to finance the company’s capital expenditures and general corporate requirements and refinancing of maturing obligations,” the company said in a disclosure to the stock exchange. 

The Ayala-led telco remains “on track” to invest P63 billion in 2019 mostly for data-related capital expenditure to enhance network capabilities, Globe said. 

Globe said its digital shift led mobile data traffic to reach 1,200 Petabytes for the first 9 months of 2019.