Globe Telecom signed a loan deal with LandBank and BDO.
GLOBE TELECOM — The telecommunications company recently signed a loan deal with Land Bank of the Philippines (LandBank) and BDO Unibank, Inc.
On Friday, the telco said that it had signed term loan facilities with LandBank and BDO for PHP 5 billion and PHP 10 billion, respectively.
The telco said in a disclosure to the PSE (Philippine Stock Exchange) that the loans shall be used in order to finance the company’s debt refinancing, capital expenditures, and for general corporate requirements.
According to the telco, it invested a record level capital expenditure of PHP 65.4 billion as of end-September this year, surpassing last year’s full year investment of PHP 60.3 billion.
GMA News Online reported that about 84 percent of the capex (capital expenditures) investment went to data network builds in order to address and elevate mobile and internet experience.
As part of the telco’s campaign to deliver first-world connectivity to the Filipino people, Globe Telecom said that it sustained its network build momentum with 1,080 new cell sites, upgraded at least 12,900 cell sites (including both 4G LTE and 5G), and installed over 1 million fiber-to-the-home lines, which already surpassed this year’s full-year target.
The telco was fully committed to support 10 of the United Nations (UN) Sustainable Development Goals (SDG), such as UNSDG No. 9 highlighting the role of innovation and infrastructure as crucial drivers of economic development and growth.
Last month, the telco claimed that it was accelerating the rollout of 5G capable in-building solutions (IBS) in order to provide quality indoor coverage.