Sy-blings support Globe Telecom’s growth initiatives with P20 billion loan facility

Ayala-led Globe Telecom Inc. is tapping a loan facility from BDO Unibank to refinance debt and fund its expansion.

The P20-billion term loan facility signed by Globe with BDO will be used to finance the telco’s capital expenditures, debt refinancing, and general corporate requirements.

In the first nine months of the year, Globe has invested P54 billion in capex for network expansion and enhancement.

The amount is 27 percent lower than what the company spent in the same period last year, in line with Globe’s reinforced guidance of capex dropping to $1.3 billion for 2023.

The majority of the capex, or 91 percent, was allocated for the data requirements to reinforce digital solutions and connectivity.

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