Globe Telecom Inc. said it borrowed again from Metropolitan Bank and Trust Co. to finance part of capital expenditures this year.
The telecom unit of conglomerate Ayala Corp. said in a disclosure it signed a seven-year and 10-year, $155-million term loan facility with Metrobank.
Globe earlier signed a 10-year, P8-billion term loan facility and an 8-year, P7-billion term loan facility with BDO Unibank Inc.
The company also signed a six-year, P7-billion term loan with Development Bank of the Philippines.
Globe’s capex guidance for 2017 stands at $750 million, but the company is looking at the possibility of raising the level by $50 million to continue addressing the growing demand for quality data services in the country.
Globe as of the end of the first half of the year spent around $550 million in capital expenditures, primarily to support the group demand for data across its mobile, broadband and enterprise segments.
Globe earlier reported a consolidated net income of P8.1 billion in the first six months, down 10 percent from P9 billion last year.
Globe’s net profit was weighed down by the impact of increased interest expenses, depreciation charges and its share in equity losses and spectrum amortization related to the San Miguel telecom asset acquisition. Globe and PLDT Inc. jointly acquired 100-percent equity interest in San Miguel’s Vega Telecom Inc. for P52.08 billion and assumed around P17.02 billion of liabilities.
Excluding the impact of the San Miguel transaction, normalized net income would have just declined 4 percent to P8.7 billion on year.
Globe’s core net income, which excludes the impact of non-recurring charges, foreign exchange gains and mark-to-market charges, stood at P8 billion, or lower by 10 percent year-on-year.
Globe posted a new all-time high consolidated service revenues of P62.9 billion, up 5 percent from P59.9 billion reported in the same period of 2016.
Globe had a total mobile subscriber base of 59.7 million, down 3 percent from 61.3 million reported in the same period last year.
Home broadband subscribers stood at 1.22 million from 1.13 million last year.
Globe to date has 37,009 base stations, with over 22,800 for 4G2, to support the service requirements of customers.