Globe secures PHP22B loans from banks for capex

Globe Telecom has secured PHP22 billion in loans from China Bank, Landbank, and Metrobank to fund its capital expenditures (capex), debt refinancing, and general corporate requirements.

The company borrowed PHP10 billion from China Bank, PHP5 billion from Landbank, and PHP7 billion from Metrobank.

In the first half of 2024, Globe allocated PHP28.3 billion for capex, primarily to support data infrastructure and enhance network coverage.

Globe aims to optimize capital allocation and achieve positive free cash flows by next year with this investment strategy, focusing on bridging the digital divide in remote areas.

Approximately 91 percent of the capex was allocated for data infrastructure to ensure continuous service availability for customers.