Globe Telecom secures P20 billion loans for infrastructure

Globe Telecom Inc. has secured P20 billion in loans from BDO Unibank Inc. and Metropolitan Bank & Trust Co. The funds will be used for building telecommunication infrastructure, refinancing debts, and general corporate needs. This year, Globe plans to spend under $1 billion on capital expenditures, focusing on data requirements. Last year, the company invested P56.2 billion, adding new cell sites and expanding fiber-to-the-home lines. In addition to loans, Globe has raised funds by selling tower assets, receiving P706 million from recent sales. The company aims to enhance its network coverage while participating in the government's tower-sharing initiative.