Globe Telecom, Inc. has secured a JPY 20 billion, or around P7.6 billion, term loan facility from Mizuho Bank, Ltd. to fund its capital expenditures (capex), debt, and other general corporate needs.

The Ayala-backed telco said Wednesday that it officially closed the deal to help support its ongoing investment program, with spending reaching P31.4 billion in the first nine months—23 percent lower than the P41.0 billion a year earlier. 

The company said the reduction followed a more strategic and disciplined approach to capital management while still prioritizing essential network upgrades. For the entire year, Globe’s full-year capex guidance is set at below $1 billion.

Globe’s cash capex-to-revenue ratio improved to 26 percent from 33 percent, while its capex-to-EBITDA ratio dropped to 49 percent from 63 percent.

Meanwhile, data-related projects continued to dominate spending, accounting for 89 percent of capex.

Globe has been pushing to expand digital capacity and nationwide connectivity to “empower more Filipinos to thrive in a digitally connected economy.”