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Globe taps BDO for P5-B loan amid capex push

Globe Telecom, Inc.
Globe Telecom, Inc.
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Globe Telecom, Inc. has secured a P5-billion term loan from BDO Unibank, Inc. to strengthen its funding capacity for network investments as it pursues capacity upgrades and refinances existing debt.

In a disclosure on Wednesday, Globe said the financing will be used to partially fund capital expenditures (capex), refinance debt, and support general corporate requirements.

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“With focused investments and innovation shaped by consumer needs, Globe continues to strengthen its digital infrastructure, empowering more Filipinos, households, and businesses to succeed in the digital age,” the company said.

The loan will support Globe’s planned cash spending of less than $1 billion this year as it balances network expansion with balance sheet discipline.

In the first quarter, Globe’s capex rose 51 percent year on year to P12.7 billion, driven by network expansion and capacity upgrades. The amount accounted for 30 percent of service revenues during the period.

Data-related initiatives accounted for 91 percent of first-quarter cash capex, underscoring Globe’s focus on expanding digital capacity and enhancing network quality amid growing data demand.

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