Globe Telecom, Inc. signed a term loan facility with BDO Unibank, Inc. for Php20
Billion. The loan shall be used to finance the Company’s capital expenditures (capex), debt refinancing and/or general corporate requirements.
Globe invested Php54.0 Billion in capex in the first nine months of the year for network expansion and enhancement.
This is lower by 27% than the similar period of 2022 and is in line with Globe’s reinforced guidance of CAPEX dropping to 1.3 billion US dollars for the full year.
Majority of the capex spend or 91% was allocated for the data requirements to ensure that customers will be able to access the best digital solutions and connectivity anytime.
As proof of the company’s sufficient investment in the network, Globe was recognized by Ookla as the Most Consistent Fixed Broadband Provider in 33 towns and cities and two provinces nationwide during the third quarter.
This follows Globe’s achievement in the previous quarter where it secured the top spot in 31 locations. Additionally, the company showed marked improvements in both download and upload speeds in 19 strategic locations during the period.
Globe’s nonstop network improvement is in line with Globe’s commitment to the United Nations Sustainable Development Goals, particularly SDG No. 9, that underscores innovation and infrastructure as key drivers of economic growth.