Globe has secured a P3-billion term loan facility with the Bank of the Philippine Islands (BPI). The funding will support the company’s capital expenditures, debt refinancing, and general corporate needs.
Globe reported investing P41 billion in capital expenditures during the first nine months of 2024, a 24% decrease compared to the same period in 2023. The company allocated 91% of this spending to meet growing data requirements, ensuring continuous connectivity and digital solutions for customers.
Between January and September 2024, Globe built 684 new cell sites and upgraded 2,723 existing mobile sites to LTE technology. It also rolled out 55,076 fiber-to-the-home lines, strengthening its fiber infrastructure to serve more households and businesses.
The company emphasized that its careful spending reflects its goal of maximizing network efficiency while maintaining a positive free cash flow. Globe remains focused on expanding digital access and supporting the country’s digital transformation.