GLOBE Telecoms confirmed that they had signed an 11-year term loan with the BDO Unibank amounting to P20 billion.

In a statement, Globe said the money to boost their capital expenditures, as well as conduct debt refinancing or general corporate requirements.

The company said that they had spent P54 billion for the capex during the first nine months of the year.

It is done for the network expansion and enhancement.

But it is down 27 percent from 2022 figures. 

Likewise the telco giant said this investment is sufficient, as they were recognized by Ookla as being the consistent fixed broadband provider in 33 towns and cities and two provinces from July to September.

Likewise, Globe narrated that they have shown marked improvements for the download and upload speeds in terms of 19 strategic locations during the period.

The Ayala-led telco reported that they have a net income reaching P19.4 billion from January to September.

However the figure is down 27 percent from the figures in the same period in 2022.