Globe gets $100M loan from Bank of China | Bilyonaryo Business News
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Globe gets $100M loan from Bank of China

Globe Telecom Inc. has secured $100 million financing from Bank of China (Hong Kong) Ltd. to support its capital spending program this year.

The Ayala-led telco is ramping up its capex this year to a record P70 billion to construct more LTE sites and fasttrack the deployment of 5G and iber-to-home network.

Globe already spent P19.1 billion as of end-March, exceeding last year’s spending by 79 percent. About 91 percent went to data-related requirements to support the fast-growing data usage and provide superior data customer experience.

As of end-March, Globe had a total of 318 new cell towers, 152 percent higher than the previous year. Over 287,000 high-speed lines were also installed, reflecting a 212 percent jump from a year ago.

Globe’s 5G network now covers 84 percent of Metro Manila and has reached Bacolod, Boracay, Cebu, Iloilo, Cagayan de Oro and Davao.

Its 5G service is also now available overseas in Thailand, United Arab Emirates, Vietnam, Saudi Arabia, Singapore, Hong Kong and Kuwait.

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