GLOBE Telecom, Inc. signed a 10-year P5 billion and 7-year $45 million term loan with Metrobank. The loans will be utilized to finance the company's capital expenditures.
"This new loan facility from Metrobank will help us address the demands of our customers in their continuing shift to a digital lifestyle. Globe is committed to invest in additional network capacities to handle the robust growth in data traffic from our customers," Alberto de Larrazabal, Globe chief financial officer, said.
Globe invested about P11.4 billion in capital expenditures in the first half of 2015. Bulk of the investment was allocated for data-related projects, including investments for the company’s broadband network, capacities for wireless data, LTE, and domestic and international transmission facilities.
Globe Telecom, Inc. closed the first half of 2015 with record-level consolidated service revenues of P53.8 billion, 13% higher than the P47.7 Billion reported a year ago, on the strength of robust revenue gains on mobile data and broadband, as more customers adopt a digital lifestyle.
On a sequential basis, Globe posted its highest ever consolidated service revenues of P27.6 billion for the second quarter of the year, outpacing both the record-level revenues in the seasonally strong fourth quarter of 2014 of P26.3 billion and last quarter’s P26.2 billion by 5%.
Aside from the growing number of smartphone users in the Globe network, sustained emergence of various products and services that include OTT applications, music, video streaming, gaming and social media also provided support for the company’s mobile data business.
Various partnerships with global digital giants, such as Facebook, Viber, Spotify, NBA and HOOQ, enabled the company to build a portfolio of products and services that provide relevant content to fit its customers’ digital lifestyle. This allowed the company to continue capitalizing on these partnerships to further seed data adoption among its customers.