Globe secures P10-billion loan from Metrobank

Globe Telecom Inc. said Wednesday it signed a P10-billion loan facility with Metropolitan Bank & Trust Co. to fund 2021 capital expenditures.

The telecom unit of Ayala Group said it planned to spend a record P70 billion for capex this year, higher than last year's P60.3 billion.

Globe's network roll-out strategy includes aggressive cell site builds, upgrade of all sites for 4G/LTE and fast-tracking the fiberization of Filipino homes nationwide.

The company's record-breaking capex supports continuous modernization of network to make 5G and fiber technology available to customers in more areas in the country.

Globe had nearly half a million customers using 5G devices as of end-February 2021.

5G is the latest in wireless technology that promises faster speeds, higher bandwidth and stable internet connection.

Globe is a pioneer in 5G supremacy in the Philippines with 1,069 areas across the country now with this latest generation in wireless technology. 

Owing to the telco’s aggressive network builds and site upgrades, Globe's 5G coverage was present in 848 locations in Metro Manila and Rizal; and in 221 areas in the Visayas and Mindanao as of January 2021.

“We see our customers consuming more data as their needs change especially with the pandemic. We want them to unlock the many possibilities and potential that 5G technology brings, and Globe is committed to giving them superior technology to create the quality of lives they want,” said Coco Domingo, Globe’s vice president for postpaid and international.

Topics: Globe Telecom , Metrobank , loan , capex , P70 billion , 2021
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