Globe Telecom Inc. has secured a fresh P10-billion term loan from Land Bank of the Philippines to bankroll network investments, refinance debt, and strengthen its funding position as it accelerates the expansion of its digital infrastructure.

The listed telecommunications company said Wednesday the proceeds will be used to partially finance capital expenditures (capex), refinance existing borrowings, and support general corporate requirements.

“By investing strategically in resilient and future-ready digital infrastructure, Globe remains committed to enhancing the quality of its network to empower more Filipino homes and businesses with consistent, reliable connectivity and robust digital solutions,” the company said. 

Globe has maintained its full-year cash capex guidance of below $1 billion amid what it described as a disciplined investment strategy focused on expanding critical network infrastructure while keeping spending in check.

From January to March, the company invested P12.7 billion in capital expenditures, up 51 percent from a year earlier. 

The amount accounted for 30 percent of service revenues, supporting network upgrades while preserving healthy free cash flow and a prudent financial position.

About 91 percent of first-quarter capex was allocated to data-related projects as demand for digital services continues to grow.