Globe mulls borrowing P10B to fund 2016 capex


GLOBE Telecom Inc. (Globe) plans to borrow P9 billion to P10 billion from banks to help fund its capital expenditure (capex) for 2016.

“We [will]probably have a couple of bilateral loans with banks and it’s probably P9 billion P10 billion for the year,” Globe’s chief financial officer (CFO) Rizza Eala told reporters during at the telco’s 2015 financial performance briefing in Taguig on Wednesday.

Eala said Globe will most likely be spending $750 million (P35.57 billion) this year to support the dynamic growth of its mobile and data services.

“We plan to spend around the same amount, $750 million, for our capex,” she said.

Eala said Globe spent over 60 percent of its 2015 capex on the company’s network. And this year the telco will still be doing the same as they aim to provide their subscribers better service.

She said Globe, which posted a 15 percent year-on-year growth in service-related revenues last year, had a fairly good financial year but they are geared to providing better services.

“We do not have time to rest on our laurels. We also work on providing better service to our customers,” Eala said.

Globe, she said, has a number of partnership plans in the pipeline.

“We have partnerships to announce in the next few months . . . ones that will enhance our mobile business,” Eala said.


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