AYALA-LED Globe Telecom said on Friday it has signed a 10-year, P8-billion term loan facility with BDO Unibank, Inc.
The loan will be used to finance the company’s capital expenditures and general corporate requirements, the company said in a disclosure to the Philippine Stock Exchange (PSE).
Globe said its capital expenditure guidance for 2017 is $750 million (P37.38 billion), of which majority will be invested in data-related projects, including the deployment of LTE mobile and LTE @Home, increased network capacities and coverage, and modernization of fixed-line data infrastructure for corporates and requirements for transmission facilities.
Globe said it spent nearly P36.7 billion or $772 million in capital expenditure in 2016, of which 65 percent was spent for data-related requirements.
For 2016, Globe generated nearly P120 billion consolidated service revenues, higher by 6 percent than the previous record of P113.7 billion in 2015.
The sustained revenue momentum, despite the competitive intensity in the market during the second half of 2016, was driven by the solid growth in data-related products across all segments, and robust subscriber growth for both mobile and broadband, it said.
“This was likewise supported by the sustained execution excellence for the various product launches during the year, backed by its improved network performance, as Globe moves forward with its capacity and coverage enhancement initiatives, intended to elevate the state of the internet in the country,” Globe said.
Globe provides digital wireless communication services nationwide through the brands Globe Postpaid, Globe Prepaid, Touch Mobile and Tattoo, and offers domestic and international long distance carrier services.