Globe Telecom Inc. has secured a P12-billion loans that would be used to partly finance its capital expenditure this year.
In a disclosure to the Philippine Stock Exchange, Globe said it has signed term loan facilities with China Banking Corp. and Philippine National Bank for P5 billion and P7 billion, respectively.
To date, Globe raised a total of P27 billion loans including the P10 billion loan facility from Metropolitan Bank & Trust Co. and $100 million or around P5 billion loan with Bank of China (Hong Kong) Ltd secured in March and May this year, respectively.
The loans shall be used to finance its P70 billion capital expenditures in 2021 to supports continuous modernization of its network to make 5G as well as fiber technology available to more customers nationwide.
