 Globe Telecom, Inc. signed a term loan facility with Bank of the Philippine Islands (BPI) for P3 Billion. The loan shall be used to finance the Company’s capital expenditures (capex), debt refinancing and/or general corporate requirements. As of the first nine months of the year, Globe invested P41 Billion in capex, lower by 24% compared to the same period in 2023. Approximately 91% of this amount was allocated for data requirements to guarantee that customers have uninterrupted access to digital solutions and connectivity services, ensuring seamless and consistent user experience. By the end of September 2024, Globe had built 684 new cell sites and upgraded 2,723 existing mobile sites to LTE technology. Additionally, Globe deployed 55,076 fiber-to-the-home (FTTH) lines to strengthen its fiber infrastructure.
These initiatives underscore Globe's strategic focus on enhancing capacity utilization and maximizing network efficiency through prudent spending. These measures not only support Globe’s objective of achieving a positive free cash flow position but also reinforce the company’s mission to ensure equitable connectivity and empower communities across the Philippines to thrive in the digital economy. |
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