Globe Telecom, Inc. Closes Term Loan Facilities with ChinaBank, Land Bank, and Metrobank

Globe Telecom, Inc. signed term loan facilities with China Banking Corporation, Land Bank of the Philippines and Metropolitan Bank & Trust Company for P10 Billion, P5 Billion and P7 Billion, respectively. The loans shall be used to finance the Company’s capital expenditures (capex), debt refinancing and/or general corporate requirements.

As of the first six months of the year, Globe invested P28.3 Billion in capex, lower by 25% compared to the same period in 2023. This reduction in capex spending aligns with the company's ongoing strategy to optimize capital allocation and achieve positive free cash flows by 2025. Approximately 91% of this amount was allocated for data infrastructure to guarantee that customers have uninterrupted access to crucial digital services and entertainment options, regardless of time or location.

Globe continues to spearhead efforts to bridge the digital divide by bringing connectivity to remote areas across the country, with its network now reaching over 500 Geographically Isolated and Disadvantaged Areas (GIDAs). By helping improve the country’s digital infrastructure, Globe connects remote communities, enabling residents to access vital online services, educational resources, and economic opportunities.