Globe secures P20-B term loan facility for capex – BusinessWorld Online
GLOBE TELECOM, Inc. said it had signed P20 billion in loan facilities with two local banks to fund its capital expenditures (capex) and reduce debt.
In a media release on Sunday, the Ayala-led telecommunications company said it secured P10 billion each from BDO Unibank, Inc. and Metropolitan Bank & Trust Co.
As of end-December, Globe’s capex for 2024 stood at approximately P56.2 billion, down 20% from 2023. Of this, 90% was allocated to data infrastructure to ensure uninterrupted digital solutions and connectivity for customers.
For 2025, Globe said its capex may fall below $1 billion, reflecting a strategic shift as the company plans to reinvest proceeds from its tower sales. Its 2024 capex budget was $1 billion.
Last year, Globe built 1,212 new cell sites and upgraded 4,613 existing sites with long-term evolution technology.
The company also deployed 67,456 fiber-to-the-home (FTTH) lines to strengthen its fiber network, saying the rollout aligns with its strategy to optimize fiber resources, improve utilization, and enhance investment efficiency.
Globe’s continued network infrastructure investments support its goal of providing equal access to the digital economy.
At the stock exchange on Friday, shares of Globe fell P16, or 0.75%, to close at P2,106 apiece. — Ashley Erika O. Jose