GLOBE Telecom Inc. signed a term loan facility with BDO Unibank Inc. for P20 billion.
The loan shall be used to finance the company’s capital expenditures (capex), debt refinancing and/or general corporate requirements.
Globe invested P54 billion in capex in the first nine months of the year for network expansion and enhancement.
This is lower by 27 percent compared to the same period in 2022 and is in line with Globe’s reinforced guidance of capex dropping to US$1.3 billion for the full year.
The majority of the capex spend or 91 percent was allocated for the data requirements to ensure that customers will be able to access the best digital solutions and connectivity anytime.