Globe Telecom Inc. said over the weekend it secured P20 billion in term loan facilities from two local banks to fund capital expenditures and refinance debt.
The telecom unit of the Ayala Group said it signed term loan faculties of P10 billion each with BDO Unibank Inc. & Metropolitan Bank & Trust Company.
“The loans shall be used to finance the company’s capital expenditures [capex], debt refinancing and/or general corporate requirements,” Globe said.
Globe’s full-year cash capex for 2024 reached about P56.2 billion, a 20-percent decrease compared to 2023.
It said of the total capex, 90 percent was invested in data requirements, ensuring uninterrupted access to digital solutions and connectivity services for Globe’s customers.
Globe constructed 1,212 new cell sites and enhanced 4,613 existing mobile sites with LTE technology as of end2024.
It also deployed 67,456 fiber-to-the-home (FTTH) lines to bolster its fiber network. The rollout prioritized the optimization of existing fiber resources to increase utilization and improve investment efficiency.
Globe earlier reported a net income of P24.3 billion in 2024, down by 1 percent from P24.6 billion in 2023.
Excluding the one-time gain from the tower sale, normalized net income would have reached P21.7 billion, reflecting a 13 percent increase from the previous year.
Globe’s core net income expanded by 14 percent year-on-year, attaining P21.5 billion by the close of 2024.
Consolidated gross service revenues reached P165 billion, a 2-percent increase from 2023.