GLOBE Telecom Inc. has signed a P5 billion term loan facility with Development Bank of the Philippines.
The loan will be used to finance the company’s capital expenditures (capex), general corporate requirements and refinancing of maturing obligations.
With Globe’s continued commitment to improve the state of Internet in the Philippines, the company remains on track to invest P63 billion in 2019, largely for data-related capex that will enhance network data capacities and capabilities.
This is in line with the capex guidance provided earlier in the year and is consistent with its push to ramp up investment spending in support of the Filipinos’ shift to the digital lifestyle.
This continued shift to digital led to mobile data traffic in its network reaching 1,200 petabytes for the first nine months of 2019, which already exceeds full year usage in 2018. (PR)