Globe inks PHP 22-billion loans for capex, debt refinancing

This was secured amid efforts to secure data infrastructure.

File photo: Globe logo

Additional funding for Globe

In a statement, Globe announced that it signed term loan facilities with China Banking Corporation, Land Bank of the Philippines, and Metropolitan Bank & Trust Company for PHP 10 billion, PHP 5 billion, and PHP 7 billion, respectively. These will be used to finance the company’s capital expenditures, debt refinancing, and/or general corporate requirements.

As of the first six months of the year, Globe said it has invested PHP 28.3 billion in capex, lower by 25 percent compared to the same period last year. This reduction in capex spending aligns with the company's ongoing strategy to optimize capital allocation and achieve positive free cash flows by 2025.

Approximately 91 percent of this amount was allocated for data infrastructure to guarantee that customers have uninterrupted access to crucial digital services and entertainment options, regardless of time or location.

Globe said it continues to implement efforts to bridge the digital divide by bringing connectivity to remote areas across the country, with its network now reaching over 500 Geographically Isolated and Disadvantaged Areas (GIDAs). By helping improve the country’s digital infrastructure, the telco said it connects remote communities, enabling residents to access vital online services, educational resources, and economic opportunities.

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Source: Globe