Saturday, September 18, 2021

Globe Telecom closes term loan with LBP

GLOBE Telecom Inc. has signed a loan facility with Land Bank of the Philippines for P5 billion.

The loan shall be used to finance the company’s general financing and corporate requirements for capital expenditures.

Globe spent P33.4 billion for capital expenditures as of end-September 2020, 81 percent of which was spent on data-related requirements.

This investment has benefitted Globe’s customers as evidenced in the latest global report of Opensignal naming Globe as one of the most improved telecommunication companies in the world in terms of video experience.

Globe remains on track to meet its full year guidance of capital expenditures amounting to P50 billion with the company’s continued focus on increasing capacity and upgrades nationwide for better internet experience for Filipinos. / PR


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