Globe has signed two term loan agreements worth ₱10 billion each with BDO Unibank Inc. and Metropolitan Bank & Trust Company (Metrobank). The telco plans to use the funds for capital expenditures, debt refinancing, and other corporate needs.
Globe’s capital spending for 2024 reached approximately ₱56.2 billion, showing a 20% drop from the previous year. The company allocated 90% of its spending to data infrastructure to strengthen digital services and connectivity.
“The continuous improvement of our network is crucial in meeting the growing demand for digital connectivity,” said Rizza Maniego-Eala, CFO, Globe. “These loans will help us sustain our efforts to enhance infrastructure while maintaining financial flexibility.”
By the end of 2024, Globe built 1,212 new cell sites and upgraded 4,613 mobile sites with LTE technology. It also deployed 67,456 fiber-to-the-home (FTTH) lines, focusing on optimizing existing fiber resources to enhance service efficiency.
Globe emphasized that its network investments aim to provide wider access to digital opportunities across the Philippines.