Globe Telecom Inc. has secured P20 billion in loans from local banks to finance capital expenditures and refinance existing debts this year.
Globe said it has signed term loan facilities valued at P10 billion each from BDO Unibank Inc. & Metropolitan Bank & Trust Co.
“The loans shall be used to finance the company’s capital expenditures (capex), debt refinancing, and general corporate requirements,” the Ayala-led telco said on Sunday.
Its capex this year is expected to be under $1 billion in line with its goal of generating positive free cash flow, Globe said, adding that it is committed to financial discipline and long-term sustainability.
The company’s capex last year reached P56.2 billion, a 20 percent decline from the 2023 level. The telco invested 90 percent of capex in data to ensure uninterrupted access to digital solutions and connectivity services.
The telco invested P70.6 billion in cash capex in 2023. “This reduced the level of spending and reflects Globe’s commitment to capital efficiency and network maximization, following record-high network investments in the prior years,”the company said.
Its total debt dipped to P249.5 billion in 2024 from P250 billion in 2023.
As of December 2024, Globe had constructed 1,212 new cell sites and enabled 4,613 mobile sites with LTE technology.
The company deployed 67,456 fiber-to-the-home (FTTH) lines to boost its fiber network. “This rollout prioritized the optimization of existing fiber resources to increase utilization and improve investment efficiency.,” it said.
The telco said enhancing and expanding its network supports the economy and innovation in line with its commitment to the United Nations’ Sustainable Development Goal No. 9.
This goal emphasizes the importance of strong infrastructure and innovation to drive economic development.
