Globe signs PHP7-B loan with DBP

Globe Telecom has signed a six-year PHP7 billion term loan facility with the Development Bank of the Philippines (DBP) to finance its capital expenditures and general corporate requirements. (Photo: Globe Telecom/Facebook)

MANILA—Globe Telecom has signed a six-year PHP7 billion term loan facility with the Development Bank of the Philippines (DBP) to finance its capital expenditures and general corporate requirements.

Globe’s capital expenditure for 2017 is USD 750 million which are mostly invested for the deployment of LTE mobile and LTE@Home, increased network capacities and coverage, modernization of fixed line data infrastructure and requirements for transmission facilities.

The company spent an estimated PHP 36.7 billion or USD 772 million in capital expenditures as of end December 2016, wherein 65 percent were for data related requirements.

The consolidated revenues of Globe for 2016 has reached an all time high of PHP120 billion, surpassing by six percent its previous record of PHP 113.7 billion in 2015 by six percent.

The sustained revenue growth was driven by the strong demand in data-related products across all segments and robust subscriber growth for mobile and broadband services.

It was also supported by the sustained execution excellence for the various products during the year as it moves forward with its capacity and coverage enhancement initiatives to further improve the state of Internet in the country.