Globe signs PHP8-B loan with BDO Unibank Inc. for capex

Globe Telecom has signed a 10- year PHP8- billion term loan facility with BDO Unibank Inc. to finance the company’s capital expenditure and general corporate requirements. (Photo: Globe Telecom/Facebook)

MANILA—Globe Telecom has signed a 10- year PHP8- billion term loan facility with BDO Unibank Inc. to finance the company’s capital expenditure and general corporate requirements.

Globe will allocate USD750 million for this year which will be invested mostly in data-related projects including the deployment of LTE mobile and LTE@Home, increased network capacities and coverage, modernization of fixed-line data infrastructure for corporates and requirements for transmission facilities.

The company spent an estimated PHP36.7 billion or USD772 million in capital expenditures as of end December 2016 wherein 65 percent were spent for data related requirements.

Globe generated all-time high consolidated service revenues of close to PHP120 billion last year, surpassing the previous record of PHP113.7 billion in 2015 by 6 percent.

The sustained revenue momentum, despite the competitive intensity in the market during the second half of 2016, was driven by the solid growth in data-related products across all segments, and robust subscriber growth for both mobile and broadband.

This was likewise supported by the sustained execution excellence for the various product launches during the year, backed by its improved network performance, as Globe pursues its capacity and coverage enhancement initiatives intended to improve the state of Internet in the country.